Technical analysis by KeN-WeNzEl about Symbol PAXG: Buy recommendation (3/4/2025)

Technical Analysis1.Trend & Price Action•On the H1 timeframe, gold is rebounding from a recent downtrend and has formed a higher low, indicating a potential reversal.•The M15 timeframe confirms this rebound, with price breaking above the short-term resistance.•The M3 timeframe shows price consolidating near the highs, which suggests accumulation before another move higher.2.Indicators•MACD•H1: Bullish crossover, histogram turning positive.•M15: Bullish crossover, supporting further upside.•M3: Neutral but not showing strong divergence.•RSI•H1: 62.74, indicating strength but not overbought.•M15: 54.50, still room for upside.•M3: 42.20, slight pullback, allowing for better entry.3.Support & Resistance Levels•Support: 2878.40 (M15 confirmed level)•Resistance: 2905.50 (H1 key level)Fundamental Analysis•Gold has strong bullish momentum due to a weakening USD. If upcoming economic data or geopolitical uncertainty supports safe-haven demand, XAU/USD will likely push higher.•Recent rally suggests institutional buying, and if momentum continues, 2905-2910 is a reasonable target.Entry: 2891.30 (Current price, allowing for a slight pullback)•Stop Loss (SL): 2882.00 (Below the recent support on M15)•Take Profit (TP): 2909.00 (Key resistance on H1)Risk-Reward Ratio (RRR)•Risk: 9.3 pips•Reward: 17.7 pips•RRR: 1:2 XAUUSD