XAUUSD Recovery Above 4,100 Opens Path Toward 4,220
Hello traders! Here is my technical forecast based on the current XAUUSD (3H) chart structure. Previously, XAUUSD traded inside a descending channel before breaking the resistance line, signaling a change in momentum. After the breakout, the price entered a consolidation range and repeatedly faced rejection near the 4220 seller zone. Currently, XAUUSD is trading above the 4100 buyer zone, remaining below the 4220 seller zone and the long-term descending resistance line. The recent breakout above the buyer zone suggests that buyers are trying to regain control. As long as XAUUSD holds above the 4100 buyer zone and the ascending support line, the bullish scenario remains in place. After a correction to support, buyers could push the price to the 4220 seller zone (TP1). However, a rejection of the resistance or a breakdown below 4100 will weaken the bullish forecast. Please share this idea with your friends and click "Boost" 🚀