1. Market Overview
Gold prices edged lower from the six-day high of $4,369 as investors took a pause early Tuesday. The US Dollar is attempting to fill Monday’s opening downside gap as the market reduces optimism surrounding a potential Iran deal.
2. Technical Analysis
📊a. Structure & Trend
The bearish structure was invalidated after price formed a strong bottom around 4,040 and strong buying pressure emerged.
The current structure suggests that the short-term recovery trend remains intact, with higher lows continuing to form.
📊b. Liquidity Zones & Key Support/Resistance Levels
• Upper Liquidity Zone: 4345 – 4350
This is a resistance area where sellers are attempting to prevent buyers from breaking out and extending the bullish momentum.
• Nearest Support Zone: 4310 – 4307
This is today’s intraday consolidation area and has not been clearly broken yet.
• Lower Liquidity Zone: 4293 – 4288
This is the area where buyers are trying to defend price and prevent a stronger bearish expansion if a breakdown occurs.
3. Outlook
There are limited economic data releases today that could impact gold prices. Therefore, price may continue to consolidate within the current bullish recovery structure while waiting for further developments regarding the US–Iran agreement.
Wish you a successful trading day
Gold prices edged lower from the six-day high of $4,369 as investors took a pause early Tuesday. The US Dollar is attempting to fill Monday’s opening downside gap as the market reduces optimism surrounding a potential Iran deal.
2. Technical Analysis
📊a. Structure & Trend
The bearish structure was invalidated after price formed a strong bottom around 4,040 and strong buying pressure emerged.
The current structure suggests that the short-term recovery trend remains intact, with higher lows continuing to form.
📊b. Liquidity Zones & Key Support/Resistance Levels
• Upper Liquidity Zone: 4345 – 4350
This is a resistance area where sellers are attempting to prevent buyers from breaking out and extending the bullish momentum.
• Nearest Support Zone: 4310 – 4307
This is today’s intraday consolidation area and has not been clearly broken yet.
• Lower Liquidity Zone: 4293 – 4288
This is the area where buyers are trying to defend price and prevent a stronger bearish expansion if a breakdown occurs.
3. Outlook
There are limited economic data releases today that could impact gold prices. Therefore, price may continue to consolidate within the current bullish recovery structure while waiting for further developments regarding the US–Iran agreement.
Wish you a successful trading day
Trade active
the plan is still on trackTrade closed: target reached
complete the original plan 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.