Technical analysis by Michael-trades- about Symbol PAXG on 4/10/2025

📊 **XAU/USD (Gold vs US Dollar) 15-Minute Chart Analysis – April 10, 2025**This chart illustrates potential price action scenarios for **XAU/USD** with a focus on key support and resistance zones:#### 🔷 **Key Levels Highlighted:**- **Resistance Area (R. Area):** Located between approximately **$3,130 – $3,140**, this zone represents strong selling pressure where previous upward momentum stalled. - **Intermediate Support Zone (L:S):** Around **$3,088**, this level acted as a short-term bounce point and may serve as a decision zone for bulls or bears.- **Major Support Zone:** Around **$3,060**, marked as a significant demand area where buyers have previously stepped in.#### 🔁 **Price Scenarios Outlined:**1. **Bullish Continuation:** Price breaks above the resistance area and continues moving higher, indicating strong bullish momentum.2. **Rejection & Pullback:** Price may retest the resistance and get rejected, falling back toward the intermediate or major support levels before making its next move.3. **Range-Bound Movement:** Price could fluctuate within the defined support and resistance levels, forming a consolidation pattern before a breakout.#### 📍 **Current Price:** - Trading at **$3,118.90**, just below the resistance zone.📌 **Current Chart Status – XAU/USD (15-Minute Chart)**As of the current candle:- **Price:** **$3,118.90**- **Trend:** Short-term **bullish recovery** from a recent pullback.- **Location:** Price is **approaching the Resistance Area** (around $3,130 – $3,140) after bouncing from the minor support zone near $3,088.---### ✅ **Key Observations:**- **Momentum:** Bullish candles are forming as price pushes back toward resistance, suggesting buying interest in the short term.- **Risk Area:** The **R. Area** (Resistance) is a potential turning point. If price fails to break and close above it, a **rejection and pullback** scenario becomes more likely.- **Watch for Confirmation:** A breakout above $3,140 with strong volume would confirm the **bullish continuation** scenario. A rejection here could send price back to test **$3,088** or even the **$3,060** support zone.---### 🔍 **Conclusion:**The chart is in a **critical testing phase**. Bulls are trying to push through resistance, but confirmation is needed. Until then, the market remains in a **neutral-to-bullish stance**, with potential for either a breakout or a pullback.