Technical analysis by mchansha about Symbol PAXG: Buy recommendation (6/5/2025)

📌 XAUUSD – 1H Chart Update | June 5th, 2025Gold is consolidating within a triangle pattern, with price respecting key structure levels and showing signs of potential breakout. Despite a bullish bias, the Stochastic oscillator remains in the overbought area, signaling a possible short-term pullback before continuation.🟧 Key Technical Highlights:Price is consolidating near the triangle’s apex — a breakout is imminent.Bullish breakout target: 3,392–3,410 Supply Zone.Breakdown potential: revisit to Demand Zone at 3,340 or deeper to 3,306–3,246.Overbought Stochastic supports the scenario of a pullback before bullish continuation.📊 Upcoming Fundamental Catalyst:🔥 NFP Data – Friday, June 7th (High Impact)Strong NFP → USD strengthens → Gold may dropWeak NFP → USD weakens → Gold may rallyTraders are likely to remain cautious ahead of the release, potentially leading to choppy or range-bound price action until the data is out.🧠 Trading Strategy:Wait for breakout confirmation with volume.If price rejects the upper triangle, prepare for a retest toward Buyer Zone.If breakout occurs after NFP with bullish momentum, target 3,392 and above.Stay sharp, trade smart, and manage your risk — especially heading into NFP!Disclaimer ONUPDATE PREVIOUS ANALYSIS🧠 Running Trade :Open : 3384TP :3407SL : 3364Disclaimer ON!