GOLD - Correction after the rally. Focus on support!

XAUUSD , after hitting a new all-time high of 5597, is entering a correction phase due to profit-taking triggered by local news. Overall, the structure is bullish, and the market will be able to return to growth after the pullback.

Fundamental situation
Trump's threats against Iran and Tehran's response. The active conflict between Russia and Ukraine generally supports interest in hedge assets.
Fed: Rates remain unchanged, investigation against Powell and pressure on the Fed undermine confidence in the regulator's independence. The market still expects two Fed rate cuts in 2026.
Near-term indicators: US jobless claims data (today). Any further weakening of the dollar or escalation of geopolitical tensions will resume gold's growth.
Gold's correction is a natural pause after a sharp rise. The combination of geopolitical risks, pressure on the Fed, and a weak dollar supports the uptrend. Pullbacks to $5475 - 5391 can be seen as a buying opportunity.

Resistance levels: 5515, 5595, 5597
Support levels: 5475, 5453, 5391

After strong growth, the market may form a correction of 50-70% relative to the momentum formed within the trading session. All attention is on the support zones: 5475, 5453, 5391. A long squeeze will provide an opportunity for growth.

Sincerely, R. Linda!