XAUUSD maintains a clear bullish structure on the H4 timeframe following a strong breakout from the previous consolidation zone. Prices remain well above the EMA34 and EMA89, indicating no signs of weakness in the primary trend.
The 4,367 level is the area I am watching most closely should a pullback occur; it serves as immediate support and lies just below the current consolidation zone. If buyers successfully defend this level, there is a strong possibility that XAUUSD will regain momentum and target the 4,430–4,470 range.
The recent macroeconomic backdrop also supports gold, driven by safe-haven demand and expectations of a less hawkish Federal Reserve, though volatility could spike around the release of US inflation data.
The 4,367 level is the area I am watching most closely should a pullback occur; it serves as immediate support and lies just below the current consolidation zone. If buyers successfully defend this level, there is a strong possibility that XAUUSD will regain momentum and target the 4,430–4,470 range.
The recent macroeconomic backdrop also supports gold, driven by safe-haven demand and expectations of a less hawkish Federal Reserve, though volatility could spike around the release of US inflation data.
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.
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.