FX.co ★ XAU/USD, GOLD

XAU/USD GOLD Gold XAUUSD Hello traders! XAU/USD on the H1 chart - 1 hour period. Currently, the market has formed a favorable situation for price movement in the north direction from the key level of 5427.792138. The nearest targets are 1) 5581.607233, target 2) 5624.333648. This level acts as the first significant resistance, where price consolidation is possible. The second set of targets, target 1) 5884.227044, target 2) 5927.200629. This level represents a deeper resistance level where the price may head in case of a strong upward impulse development. The scenario suggests a high probability in the north direction, especially if XAU/USD can hold above the level of 5427.792138. If the scenario unfolds, the price may reach the nearest targets, 5581.607233, 5624.333648 within a few days. I recommend keeping an eye on additional analysis and taking into account the release of important economic news that may impact price movement. Wishing everyone successful trading!