XAUUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE

This chart represents a technical analysis of Gold (XAU/USD) on a 1-hour timeframe. Here’s what it suggests:

1. Support Zone (Buy Zone) – The pink-highlighted area around $2,900 indicates a demand zone where buying interest is expected. Price previously bounced from this area, making it a key support level.


2. Resistance Level – The black horizontal line at $2,954.505 represents a strong resistance level where price previously reversed.


3. Trendlines –

The blue upward trendline on the left shows the prior bullish trend.

The blue downward trendline represents the recent bearish correction.

Now, price has bounced off the buy zone, suggesting a potential reversal.



4. Projected Price Movement – The two blue arrows indicate expected bullish movement from the support zone, with a potential target around $2,930–$2,954.


5. Fundamental Events – The small icons (U.S. flag and calendar) suggest upcoming economic events, possibly affecting gold’s price action.



Conclusion:

The chart suggests that gold might rise from the buy zone and attempt to retest resistance around $2,954, assuming no major bearish catalysts. Traders might look for bullish confirmations before entering long positions.