XAUUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE

This chart is a 1-hour time frame analysis of CFDs on Gold (XAU/USD) published on TradingView. Here’s what it suggests:

1. Support and Resistance Levels:

Support: Around 2,909.143 (marked with a red line).

Resistance: Around 2,943.636 (marked with a red line).



2. Previous Price Action:

The price previously reached 2,943.145 before dropping.

A key level at 2,909.320 acted as a resistance before the breakout.



3. Breakout Confirmation:

The price recently broke above the 2,909.320 level.

The breakout is marked with a blue arrow, indicating a bullish move.



4. Prediction (Black Arrow):

The chart suggests a pullback to the 2,909.143 support before continuing upward toward 2,943.636 resistance.




Conclusion:

This is a bullish forecast, expecting gold prices to rise after a possible short-term retest of support. If 2,909.143 holds, it could provide a good buying opportunity toward 2,943.636.