Technical analysis by XAUUSD_MASTER003 about Symbol PAXG on 6/3/2025

This chart shows the 1-hour (1H) price action for **Gold (XAU/USD)** as of **June 3, 2025**. It incorporates key technical indicators and price zones relevant for short-term trading or analysis. Here's a detailed breakdown:---### 📈 **Chart Components and Analysis**#### 1. **Trendline & Price Action*** A **resistance trendline** is drawn connecting recent higher highs, indicating a bearish breakout when price rejected the upper trend.* Price spiked above the trendline briefly but sharply reversed from a key area, suggesting **strong seller pressure** near the recent highs (\~\$3,400).#### 2. **Order Blocks (OBs)*** **Bearish OB (Order Block)**: Located just below the \$3,400 level. This zone marks a strong supply area where institutional selling likely occurred, leading to the recent drop.* **Bullish OB**: Around the \$3,320–\$3,340 zone. This represents a demand area where buyers previously stepped in, possibly creating a support base.#### 3. **Support Zone*** A **broad support zone** is shown in green between approximately **\$3,250 and \$3,270**.* This zone was tested previously and held firm, suggesting potential for bullish activity if price retraces deeply.#### 4. **Moving Averages (EMA 20/50/100/200)*** The EMAs are color-coded: * **20 EMA**: \$3,355.466 (red) * **50 EMA**: \$3,347.451 (orange) * **100 EMA**: \$3,333.973 (cyan) * **200 EMA**: \$3,318.522 (blue)* Price is currently trading between the 20 and 50 EMA, indicating a potential decision point (either breakout or pullback).#### 5. **Price Scenarios*** Two potential scenarios are drawn with arrows: * **Bullish Scenario**: Price bounces from the blue highlighted zone (minor demand) and targets the bearish OB. * **Bearish Scenario**: Price breaks down through the minor support and heads toward the **bullish OB** or **support zone**.---### 🧭 **Trading Implication*** **Short-term Bias**: Neutral to Bearish unless price reclaims and holds above \$3,355 (20 EMA).* **Key Levels to Watch**: * Resistance: \$3,380–\$3,400 (bearish OB) * Support: \$3,340–\$3,320 (bullish OB), then deeper at \$3,250–\$3,270---Would you like this analysis updated for future movements, or should I generate trading signals based on this setup?Target Achieved:The downward movement from the resistance zone to the support zone suggests that the short-term target mentioned in the title—"Eyes on Support Zone"—has been successfully achieved.