Gold weakens, retesting key 4080 support

14 hours ago

Market Overview
After failing to hold above the 4115–4120 zone, gold (XAU/USD) has turned lower toward 4085, signaling the loss of short-term recovery momentum.
Profit-taking pressure increased as U.S. bond yields rose again and traders turned cautious ahead of the upcoming U.S. PCE data.
Buyers are now defending the 4080–4078 support area, which will be crucial in determining the next market direction.

📊 Technical Analysis
• EMA50 (H1): 4107 → price now trading below EMA50, indicating a clear correction phase.
• EMA200 (H1): 4126 → remains the main resistance until a firm close above it.
• RSI (H1): dropped to 40, showing bearish momentum dominance.
• Near-term resistance: 4108 – 4115
• Upper resistance: 4130 – 4142
• Immediate support: 4080 – 4075
• Next support: 4062 – 4050
On the H1 timeframe, a bearish engulfing pattern is forming — a signal that deeper downside could follow if 4080 is broken.

💡 Outlook
The short-term trend has shifted back to neutral-to-bearish.
If price closes below 4078 (H1), gold could extend losses toward 4062 – 4050.
Conversely, a bullish reversal candle around 4080–4078 may trigger a rebound toward 4108–4115.

🎯 Trading Strategy
🔺 BUY XAU/USD: 4053 – 4050
🎯 TP: 40 / 80 / 200 pips
🛑 SL: 4047

🔻 SELL XAU/USD : 4108 – 4112
🎯 TP: 40 / 80 / 200 pips
🛑 SL: 4116

12 hours ago

Trade active

Gold prices are currently stabilizing after a sharp drop; however, the main trend remains bearish until the H1 candle closes back above 4075.
If the price holds within 4048–4042 and a bullish reversal candle appears, a rebound toward 4070–4085 could be possible.

9 hours ago

Trade closed: target reached

Gold remains in a short-term downtrend; prefer selling again around 4063–4068. 📉