XAUUSD: Double Bottom Holding – Can Gold Break Above Resistance After NFP?
Gold (XAUUSD) is showing signs of strength after forming a clear double bottom near the major support zone. Price rejected lower levels and produced a strong bullish impulse, but a fake breakout at resistance suggests buyers still need confirmation.
The highlighted demand zone is the key area to watch. If price holds above this region and buyers step in again, a move back toward the resistance zone becomes more likely. A confirmed breakout above resistance could strengthen bullish momentum.
On the other hand, if the demand zone fails to hold, price may revisit the previous support area before the next directional move develops.
With the NFP release approaching, volatility may increase significantly. Waiting for confirmation and managing risk is generally more important than anticipating the outcome.
Key Levels
Resistance: Orange zone
Support: Blue zone
Demand: Green zone
This analysis is for educational purposes only and is not financial advice. Always use your own analysis and proper risk management before making trading decisions.
Gold (XAUUSD) is showing signs of strength after forming a clear double bottom near the major support zone. Price rejected lower levels and produced a strong bullish impulse, but a fake breakout at resistance suggests buyers still need confirmation.
The highlighted demand zone is the key area to watch. If price holds above this region and buyers step in again, a move back toward the resistance zone becomes more likely. A confirmed breakout above resistance could strengthen bullish momentum.
On the other hand, if the demand zone fails to hold, price may revisit the previous support area before the next directional move develops.
With the NFP release approaching, volatility may increase significantly. Waiting for confirmation and managing risk is generally more important than anticipating the outcome.
Key Levels
Resistance: Orange zone
Support: Blue zone
Demand: Green zone
This analysis is for educational purposes only and is not financial advice. Always use your own analysis and proper risk management before making trading decisions.
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Technical & fundamental analysis
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Daily Forex signals with high accuracy
t.me/SMC_LogicAcademy
Technical & fundamental analysis
Risk management tips to protect your capital
Join now and start profit daily free signal
t.me/SMC_LogicAcademy
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.