🔍 Chart Overview
Instrument: Gold Spot (XAU/USD)
Timeframe: 2H (2-hour candles)
Date/Time: Chart ends on June 5th, 2025, 19:14 UTC.
🟩 Support & Resistance Zones
✅ Resistance Zone
Level: Around 3,355 – 3,375 USD
📌 This zone has seen repeated tests and rejections, indicating strong selling pressure.
✅ Support Zone
Level: Around 3,160 – 3,180 USD
🛡️ Price bounced from this zone previously, confirming it as a strong support area.
⚙️ Key Observations
📈 Range-Bound Trading
The price is currently trapped between the strong support and resistance zones.
Multiple rejections at the resistance zone suggest sellers are active above 3,355 USD.
💡 Horizontal Consolidation
Price has formed a horizontal range (sideways movement) in recent sessions.
This range-bound behavior signals market indecision or a buildup before a potential breakout.
📉 Previous Price Action
🔽 Sharp Reversal Drop
Around the middle of May, there was a strong rejection at resistance, followed by a rapid sell-off to the support zone.
This shows that the resistance zone is significant and that sellers are quick to act.
🔮 Potential Scenarios
✅ Bullish Breakout
If price closes above 3,375 USD with strong momentum, expect a potential bullish rally toward 3,400+ USD.
✅ Bearish Rejection
If price fails to close above 3,355 USD and shows rejection candles (like dojis or bearish engulfing patterns), price may retest 3,280 USD and even support at 3,160 USD.
🔔 Key Takeaway & Trader’s Tip
⚠️ Watch for breakout signals near resistance and support.
✅ Volume spikes and momentum indicators will help confirm true breakouts or fakeouts.
🔍 Neutral to Bearish Bias
Given repeated rejections at resistance, short-term bias is neutral to bearish unless a breakout occurs.
📝 Summary with Emojis
🔴 Resistance Zone: 🔝💪
🟩 Support Zone: 🛡️🟢
📉 Bearish Momentum likely below 3,355 USD
📈 Bullish Breakout above 3,375 USD
🕵️♂️ Watch for consolidation and breakout setups!
Instrument: Gold Spot (XAU/USD)
Timeframe: 2H (2-hour candles)
Date/Time: Chart ends on June 5th, 2025, 19:14 UTC.
🟩 Support & Resistance Zones
✅ Resistance Zone
Level: Around 3,355 – 3,375 USD
📌 This zone has seen repeated tests and rejections, indicating strong selling pressure.
✅ Support Zone
Level: Around 3,160 – 3,180 USD
🛡️ Price bounced from this zone previously, confirming it as a strong support area.
⚙️ Key Observations
📈 Range-Bound Trading
The price is currently trapped between the strong support and resistance zones.
Multiple rejections at the resistance zone suggest sellers are active above 3,355 USD.
💡 Horizontal Consolidation
Price has formed a horizontal range (sideways movement) in recent sessions.
This range-bound behavior signals market indecision or a buildup before a potential breakout.
📉 Previous Price Action
🔽 Sharp Reversal Drop
Around the middle of May, there was a strong rejection at resistance, followed by a rapid sell-off to the support zone.
This shows that the resistance zone is significant and that sellers are quick to act.
🔮 Potential Scenarios
✅ Bullish Breakout
If price closes above 3,375 USD with strong momentum, expect a potential bullish rally toward 3,400+ USD.
✅ Bearish Rejection
If price fails to close above 3,355 USD and shows rejection candles (like dojis or bearish engulfing patterns), price may retest 3,280 USD and even support at 3,160 USD.
🔔 Key Takeaway & Trader’s Tip
⚠️ Watch for breakout signals near resistance and support.
✅ Volume spikes and momentum indicators will help confirm true breakouts or fakeouts.
🔍 Neutral to Bearish Bias
Given repeated rejections at resistance, short-term bias is neutral to bearish unless a breakout occurs.
📝 Summary with Emojis
🔴 Resistance Zone: 🔝💪
🟩 Support Zone: 🛡️🟢
📉 Bearish Momentum likely below 3,355 USD
📈 Bullish Breakout above 3,375 USD
🕵️♂️ Watch for consolidation and breakout setups!
Trade active
Market Analysts, Mentor, Forex Trader.
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Market Analysts, Mentor, Forex Trader.
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
#XAUUSD Trader
FREE ANALYSIS AT ENTRY POINT.
Your Growth Is My Priority link
t.me/VikingFxCommunityAcademy
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.