XAUUSD Short: Tests Channel Resistance – Bears Stay in Control

Jul 10

Hello traders! Here’s my technical outlook based on the current XAUUSD (4H) chart structure. XAUUSD previously traded inside a descending channel before breaking below a consolidation range and continuing lower inside a new bearish channel, confirming strong seller control.

Currently, XAUUSD is trading above the 4,020 Demand Zone while remaining below the 4,170 Supply Zone. Price continues to respect the descending channel resistance, keeping bearish pressure intact.

As long as XAUUSD remains below the 4,170 Supply Zone and respects the descending channel, the bearish scenario remains valid. A continuation lower could push price toward the 4,020 Demand Zone (TP1). Manage your risk!

Jul 13

Trade active

The price continues to respect the resistance of the descending channel, so we simply expect a decline to our target!

Jul 14

Trade closed: target reached

The target has been reached. The gold price continues to move inside the descending channel!