GOLD/USD Falling Wedge Breakout Potential

Chart Analysis:

The chart illustrates a Falling Wedge Pattern, a bullish reversal setup typically signaling a breakout to the upside.

📌 Key Observations:

📉 Downward Channel: Price has been compressing within a falling wedge (highlighted in blue), indicating potential exhaustion of sellers.

💪 Support Zone: Strong support observed near the 3,340 level, with price rejecting this zone multiple times (highlighted with orange circles).

🔼 Bullish Signals: Price recently tested the lower wedge boundary and bounced, suggesting potential reversal.

🎯 Breakout Target: Projected target after breakout is around 3,453.453 USD, aligned with previous resistance zone.

🟢 Buy Pressure Arrows: Green arrows signal previous bullish reactions from similar demand zones.

📈 Conclusion:
If price breaks above the wedge’s upper boundary with volume confirmation, a bullish rally toward 3,453 is expected. Keep an eye on breakout retest for entry validation.

✅ Trading Plan Suggestion:

Entry: On breakout above wedge resistance

SL: Below recent swing low (~3,330)

TP: 3,453 zone 🎯

🔔 Note: Wait for a confirmed breakout before entering to avoid false signals.