XAUUSD: Rebound from 4,370$ Can Push Price To 4,480$ Resistance

Sep 10

Hello everyone, here is my breakdown of the current XAUUSD setup.

Market Analysis

XAUUSD previously traded inside a triangle structure before breaking higher and shifting bullish. Price then formed an upward channel with multiple breakouts before testing the Resistance Zone.

Currently, XAUUSD is trading below the 4,480 Resistance Zone while holding above the 4,370 Support Zone and the upward channel support. The recent rebound from support suggests buyers may attempt another move toward resistance.

My Scenario & Strategy

As long as XAUUSD remains above the 4,370 Support Zone and respects the upward channel, the bullish scenario remains valid. A successful breakout above 4,480 could push price higher, with 4,480 acting as the key resistance level (TP1).

However, a breakdown and close below 4,370 would weaken the bullish outlook and increase the risk of further downside.

That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.

Sep 11

Trade active

At the moment, gold has broken out of the ascending channel, but buyers could still push the price back to its initial level. So, I’m going to keep an eye on the pair for a little longer!

Sep 14

Trade closed manually

The price dropped lower and broke through the channel support. Overall, the scenario has been invalidated!