Technical analysis of Gold (XAU/USD) on the 1-hour timeframe, with a clean structure suggesting continuation toward the 200 EMA. Here's the idea summary:

Analysis Idea: Bullish Continuation Setup

1. Structure Overview:

Price is currently trading above the ascending trendline, showing a short-term bullish bias.

The 50 EMA (3,974.93) has recently been retested and held as support.

The 200 EMA (4,011.37) acts as the next resistance / target point.

2. Setup Logic:

After a breakout above the 50 EMA, price is forming a retest zone (highlighted box).

A bullish reaction from this zone aligns with the trendline confluence and EMA support.

This suggests buyers may step in again to push price higher.

3. Entry & Target:

Entry Zone: Near 3,974–3,978 (trendline + EMA confluence area).

Target: 4,011 (200 EMA / key resistance).

Stop Loss: Below 3,965 (below the trendline and retest box).

4. Market Psychology:

Recent candles show higher lows and strong bullish momentum after rejection from previous lows.

Break and retest of dynamic resistance (50 EMA) supports bullish continuation.

Mr SMC Trading point

Trade Idea Summary:

Bias Entry Zone Stop Loss Target Confirmation

Bullish 3,974–3,978 <3,965 4,011 Bounce from trendline or bullish candle pattern

Pelas support boost this analysis