“XAU/USD: Eyes on $3,940 Support for Next Move”

Oct 7

🔹 Technical Analysis Of XAUUSD

▪Market Structure
Gold (XAU/USD) on the 30-minute timeframe is currently testing the RBS (Resistance Becomes Support) level near $3,940. This area is crucial for price confirmation as buyers may step in to defend the zone.

Support & Demand Zone
RBS Level for Price: Around $3,940 – $3,946 acts as immediate support.
If this level holds, price is likely to bounce higher toward target levels.
A breakdown below this zone could invalidate the bullish scenario.

▪Upside Targets
▫1st Target Area: Around $3,956 – short-term profit-taking zone.
▫2nd Target Area: Around $3,966 – next key resistance.
▫3rd Target / Major Resistance: Around $3,977 – $3,980.
▫Final Target Zone: Toward $3,987 if momentum continues.

▪Volume Analysis
Volume shows increased activity on the recent drop, suggesting strong selling pressure. However, if buyers absorb liquidity at the RBS level, this could fuel a strong bullish reversal.

✅ Summary: Gold is at a critical RBS support level. Holding above $3,940 could trigger a bullish move toward $3,956 – $3,987. A break below this support would negate the bullish setup.

Oct 7

Note

1st layer activated at 3944, at RBS level with SL 3940

Oct 7

Note

now it's running 200 pips+

Oct 7

Note

2nd target achieved ,

Oct 7

Trade active

Oct 8

Note

3rd target achieved, 330 pips+

Oct 8

Trade closed: target reached