XAUUSD Support Retest Signals Upside Move

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XAUUSD (Gold) – 15M Technical Analysis

The chart shows a bullish recovery setup after a strong downtrend. Price has formed an ascending channel and is currently testing a key support zone around 4065.

Key Observations
Support Zone: 4065–4050 area is acting as a demand zone where buyers have repeatedly entered.
Ascending Channel: Price has been making higher lows, indicating short-term bullish structure.
Current Pullback: The recent retracement appears to be a retest of support rather than a trend reversal.
Dynamic Resistance: The 9-period SMA is flattening, suggesting momentum is slowing but not yet bearish.
Parabolic SAR: Dots remain above price, showing short-term bearish pressure; a flip below candles would strengthen the bullish case.
Bullish Scenario

✅ If price holds above 4065 support and buyers step in:

Entry Zone: 4065–4070
First Resistance: 4100
Main Target: 4150
Risk-to-Reward: Approximately 1:2.4, which is favorable.
Bearish Scenario

❌ If price breaks and closes below 4065, the bullish setup becomes invalid:

Next downside target: 4030
Further weakness could extend toward 4010–4000.
Trading Bias

Bullish above 4065.
The setup suggests traders are looking for a support bounce targeting 4150, but confirmation through bullish candles and increased momentum is recommended before entry.

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