XAU/USD Analysis: Bullish Setup
On the 15-minute chart, XAU/USD is showing a bullish structure, with price bouncing off the highlighted demand zone (yellow area). The setup suggests a potential continuation to the upside.
Key Details:
Entry Zone: Price is currently trading near the demand zone (2,794.19–2,784.84), which has been acting as strong support.
Target: The target level is set at 2,816.05, aligning with a resistance zone above.
Stop Loss: Placed below the demand zone at 2,784.84, to manage risk effectively.
This setup provides a favorable risk-to-reward ratio, with the expectation of bullish momentum leading to the target level. Monitor price action closely for confirmation.