XAUUSD Breakout Coming Don’t Miss This Gold Prediction!
XAUUSD Breakout Coming Don’t Miss This Gold Prediction!
XAUUSD Breakout Coming Don’t Miss This Gold Prediction!
XAUUSD Breakout Coming Don’t Miss This Gold Prediction!
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Chart Pattern
- The price is forming higher highs and higher lows, indicating an uptrend.
- Recently, a consolidation phase is visible, which could be a potential bullish flag or pennant.
- The 200-day moving average (green) is sloping upwards, confirming a long-term uptrend.
- The 50-day and 100-day moving averages are also supporting the trend.
Dow Theory
- Primary Trend: Uptrend as higher highs and higher lows are visible.
- Secondary Trend: Recent consolidation may lead to a continuation or reversal.
- Minor Trend: Currently sideways with some pullbacks.
Volume Analysis
- Increasing volume during rallies, confirming strong demand.
- Decreasing volume during pullbacks, showing weak selling pressure.
- Breakout attempts with high volume would confirm further upside momentum.
Upcoming Events
- Economic data releases (like US Non-Farm Payrolls, CPI, or Fed Meetings) could impact gold prices.
- Geopolitical tensions or interest rate decisions may also influence the trend.
Final Takeaway
- Bullish bias as long as price stays above major moving averages.
- Risk if breakdown occurs, key support levels must hold.
- Strategy: Look for a breakout confirmation or wait for a retest of support.
Breakout Strategy (Bullish)
- Entry: Above previous high breakout level (~2930-2950) | Stoploss: Below support zone (~2880) | Targets: 2980 / 3020 / 3050
- Confirmation: High volume breakout
Breakdown Strategy (Bearish)
- Entry: Below key support (2840-2860) | Stoploss: Above recent highs (2900) | Targets: 2800 / 2750 / 2700
- Confirmation: Strong selling pressure and closing below support level
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.
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