Gold (XAUUSD) on the 2H timeframe is showing strong bullish momentum after respecting the ascending trendline and breaking above recent consolidation. Buyers remain in control as price continues to print higher highs and higher lows.
The Ichimoku Cloud supports the bullish outlook, with price trading above the cloud, indicating that the prevailing trend remains positive. Increasing buying volume during the latest rally adds confidence to the upward move.
Key Technical Levels:
Support Zone: 3,990–4,010
Immediate Resistance: 4,140
Major Resistance Zone: 4,145–4,165
Bullish Target 1: 4,140
Bullish Target 2: 4,195
Trade Idea
Bias: Bullish
Entry: On a confirmed breakout above 4,140 or after a successful retest of the breakout level.
Targets: 4,140 → 4,195
Invalidation: A sustained move below the bullish trendline and the 3,990 support zone would weaken the bullish outlook and increase the probability of a deeper correction.
Conclusion:
As long as XAUUSD holds above the ascending trendline and key support, the path of least resistance remains to the upside. A decisive break above 4,140 could open the way for an extension toward 4,195.