XAU/USD Long-Term Trend: Bullish
Key Resistance Levels: 1830.10, 1844.49, 1845,00.
Key Support Levels: 1806.27, 1764.57, 1764,00.
The price on the higher time frame failed to break a strong support level around the 1764.57 USD mark which led to a reversal and a move higher. The market is posting higher highs and lows showing that we are in a clear uptrend.
XAU/USD Medium-Term Trend: Bullish
On the lower time frame, the price is traded inside a bullish flag formation. A lower correction could be seen to the 50 % Fibonacci retracement level which signals an end of the correction before a new impulsive wave to the upside.
Buy Limit Order @ 1806.97
TP 1 @ 1829.55
TP 2 @ 1844.49
Stop Loss @ 1800.82
Trade Safely 🙂