XAU/CHF | Down Retest High chance but continue Bullish channel?
#XAUCHF# 
π₯ XAU/CHF Price Forecast β Bullish Channel Holding Strong!
The XAU/CHF pair remains in a bullish trend, with price action respecting the bullish channel after completing a key retest of support levels. This signals a potential continuation of the uptrend, offering a high-probability trading opportunity.
π Market Structure & Technical Setup:
β
Pattern Formation: A Symmetrical Triangle was previously observed, but the market has now transitioned into a bullish channel.
β
Retest Confirmed: Price successfully tested the 2,624 β 2,612 support zone, reinforcing bullish momentum.
β
EMA 50 Support: The market remains above the 50 EMA, which is acting as a dynamic support level, strengthening the upside outlook.
π― Key Price Levels & Target Zones:
π Entry Zone: 2,624 β 2,612
1st Target : 2,642
2nd Target : 2,667
3rd Target : 2,700
β Risk Management & Trading Plan:
πΉ Stop Loss Strategy: Always maintain a disciplined stop loss to manage risk effectively.
πΉ Breakout Confirmation: Watch for a strong candle close above 2,642 for further bullish confirmation.
πΉ Momentum Check: Increased buying volume and price action signals will be key to sustaining the uptrend.
π’ Stay Ahead of the Market!
π‘ Like, Comment & Follow for real-time market insights, expert trade setups, and profitable trading strategies!
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.