Hello everyone,
Today, observing the H1 gold chart, I notice that buying pressure remains strong, but recent minor pullbacks indicate the market is seeking balance before the next move. XAUUSD continues a clear uptrend with higher highs and higher lows, alongside multiple Fair Value Gaps (FVGs) forming and filling. The Ichimoku cloud lies beneath the price, sloping upward, creating a solid buffer, while volume slightly narrows near peak candles, signalling a healthy retest before a breakout.
Key support zones around 4210–4205 and 4190–4185 could allow minor retracements to “clean” liquidity before challenging resistance at 4238–4245 and moving toward 4268–4275. Conversely, if these supports weaken, selling pressure could drag the price down to 4168–4160 before the uptrend resumes.
On the macro side, Fed rate-cut expectations remain the primary support for gold. Recent statements by Chair Powell were dovish, and the Beige Book shows slower growth in some regions, usually pulling yields down and softening the USD. US–China geopolitical tensions and the risk of a prolonged government shutdown also drive safe-haven demand, while central bank and ETF net purchases continue, reinforcing the trend through pullbacks. Positive USD/yield data may only trigger technical retracements before the broader trend persists.
What do you think — will XAUUSD retest successfully or undergo a deeper pullback before breaking higher?
Today, observing the H1 gold chart, I notice that buying pressure remains strong, but recent minor pullbacks indicate the market is seeking balance before the next move. XAUUSD continues a clear uptrend with higher highs and higher lows, alongside multiple Fair Value Gaps (FVGs) forming and filling. The Ichimoku cloud lies beneath the price, sloping upward, creating a solid buffer, while volume slightly narrows near peak candles, signalling a healthy retest before a breakout.
Key support zones around 4210–4205 and 4190–4185 could allow minor retracements to “clean” liquidity before challenging resistance at 4238–4245 and moving toward 4268–4275. Conversely, if these supports weaken, selling pressure could drag the price down to 4168–4160 before the uptrend resumes.
On the macro side, Fed rate-cut expectations remain the primary support for gold. Recent statements by Chair Powell were dovish, and the Beige Book shows slower growth in some regions, usually pulling yields down and softening the USD. US–China geopolitical tensions and the risk of a prolonged government shutdown also drive safe-haven demand, while central bank and ETF net purchases continue, reinforcing the trend through pullbacks. Positive USD/yield data may only trigger technical retracements before the broader trend persists.
What do you think — will XAUUSD retest successfully or undergo a deeper pullback before breaking higher?
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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.