Technical analysis by MrHenryFx about Symbol PAXG: Buy recommendation (3/19/2025)

This 15-minute chart of Gold (XAU/USD) showcases a strong uptrend, followed by a pullback to a key support area around $3,030. The price is expected to rebound from this support and aim for the resistance area near $3,045. A breakout above resistance could signal further bullish momentum. The trendline supports the overall uptrend, and traders may look for buying opportunities near support with a target of $3,045.Gold Price Analysis (XAU/USD) – 15-Minute Chart1. Market Structure & TrendThe chart indicates a strong uptrend, starting from a consolidation phase (marked in blue) on the left.A clear trendline supports the upward movement, showing higher highs and higher lows.The price recently tested a resistance area around $3,045 and faced rejection, leading to a pullback.2. Key LevelsResistance Area: Around $3,045, where price faced selling pressure.Support Area: Around $3,030, where buyers are expected to step in.Trendline Support: Previously provided bullish momentum but has not been retested in this pullback.3. Trade Expectation & Price ProjectionThe price is currently in the support area and showing signs of a possible rebound.If the support holds, we may see a bullish move back to the $3,045 resistance level.A break above $3,045 could trigger further upside momentum.A break below $3,030 may indicate a trend shift or deeper correction.4. Trading Strategy ConsiderationsBullish Setup: Look for reversal signs at support with a target of $3,045.Bearish Setup: If price fails to hold support, watch for breakdown signals.Confirmation Needed: Price action confirmation before entering a trade is essential.ConclusionThis analysis suggests a buying opportunity near support, aiming for $3,045, with a cautious approach in case of a breakdown. Traders should monitor price reaction at key levels before taking action.Trade activeTarget reached successfully