Hi traders, are you waiting for gold to pull back before continuing?
XAUUSD has clearly broken the descending trendline and left the consolidation zone around 4,050–4,100 with a fairly decisive upward move. The price is currently above the Ichimoku cloud, so the H4 structure is still leaning towards buyers.
My area of interest right now is 4,300–4,360. If gold corrects to this level but the selling pressure isn't strong enough to break through, this will be a noteworthy area for a continued upward move.
🎯 Target: 4,550
On the other hand, the new day's macroeconomic outlook continues to support the bulls: weak US labor data has reduced expectations of a Fed interest rate hike, while US-Iran tensions continue to maintain safe-haven demand.
However, tomorrow's US CPI data could significantly increase volatility, so I still prefer waiting for price confirmation rather than FOMO.
If the H4 chart loses 4,300 and retraces back into the breakout zone, the bullish scenario will need to be reconsidered.
AURICVERSE View: The current trend remains positive, but after such a rapid increase, a clean pullback would be more appealing than chasing the price.
How are you reading this structure? Share your view below.
XAUUSD has clearly broken the descending trendline and left the consolidation zone around 4,050–4,100 with a fairly decisive upward move. The price is currently above the Ichimoku cloud, so the H4 structure is still leaning towards buyers.My area of interest right now is 4,300–4,360. If gold corrects to this level but the selling pressure isn't strong enough to break through, this will be a noteworthy area for a continued upward move.
🎯 Target: 4,550
On the other hand, the new day's macroeconomic outlook continues to support the bulls: weak US labor data has reduced expectations of a Fed interest rate hike, while US-Iran tensions continue to maintain safe-haven demand.
However, tomorrow's US CPI data could significantly increase volatility, so I still prefer waiting for price confirmation rather than FOMO.
If the H4 chart loses 4,300 and retraces back into the breakout zone, the bullish scenario will need to be reconsidered.
AURICVERSE View: The current trend remains positive, but after such a rapid increase, a clean pullback would be more appealing than chasing the price.
How are you reading this structure? Share your view below.
Trade active
Note
Signal at H1 chart looks positive for Bulls. Good luck, traders
Trade closed: target reached
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⚡ Follow AuricVerse_HQ beyond the chart.
Join AURICVERSE GOLD for XAUUSD analysis, Forex, Crypto & trader discussions:
t.me/+41cp_XYSqttlZTU1
Join AURICVERSE GOLD for XAUUSD analysis, Forex, Crypto & trader discussions:
t.me/+41cp_XYSqttlZTU1
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.