Technical analysis by SMC-Trading-Point about Symbol PAXG: Buy recommendation (7/2/2025)

SMC trading point update Technical analysis of Gold (XAU/USD) on the 3-hour timeframe, suggesting a long trade idea with a clearly defined support zone and target projection. Here's the detailed breakdown:--- Chart Breakdown (3H - XAU/USD)1. Support Zone (Yellow Box):Price reacted strongly to the 3,244–3,300 area, which is identified as a key support level.This area has historically seen demand and is now acting as a base for potential bullish continuation.2. Falling Wedge Breakout:A falling wedge pattern has been broken to the upside, which is typically a bullish reversal signal.The breakout indicates a shift from the previous bearish momentum into bullish strength.3. EMA 200 Confirmation:Price is now above the 200 EMA (3,333.347), supporting a bullish bias.This can act as dynamic support going forward.4. RSI Momentum:RSI at 62.00, indicating growing bullish momentum without being overbought.The RSI has also broken above a previous local high, confirming strength.5. Target Projection:The projected move (blue arrowed box) suggests a potential rally of +105.305 points (3.20%), targeting the 3,394.503 level.This level aligns with previous price structure and acts as the next major resistance.6. Anticipated Price Path (Black Zigzag Line):Price is expected to pull back slightly, retesting the wedge breakout or support zone.After this retest, a bullish continuation toward the target point is projected.Mr SMC Trading point --- Summary:Bias: BullishPattern: Falling wedge breakout + support retestEntry Zone: Around 3,300–3,320 on a retestTarget: 3,394.503Invalidation: Strong break and close below 3,244.166Confirmation: Bullish price action near support + sustained RSI strengthPlease support boost 🚀 this analysis)trade active