XAU/USD Technical Analysis - 2H Chart: Bullish Breakout

Hey traders, here’s the scoop on XAU/USD:

Analysis Overview:
✅ Trend and Price Action:

The price is currently trading around $2,309.17, just above the 21 EMA (yellow line at $2,310.23).
There's an upward trendline providing support, indicating potential bullish momentum.
Key Levels:
Support: $2,306.02, $2,287.80
Resistance: $2,322.24, $2,350.38
Entry Strategy:
Long Position: Look for a pullback to the support level at $2,306.02 and ensure a strong bullish candle closes above the 21 EMA ($2,310.23). That’s your potential entry point confirming bullish momentum.
🎯 Profit Targets:
Target 1: $2,322.24
Target 2: $2,350.38
Risk Control:
Stop-Loss: Set your stop-loss just below $2,306.02 to maintain a solid risk/reward ratio. This will protect you in case the market decides to turn bearish.
Monitor price action closely. Trade smart! 📈