Gold Breaks Out of Sideways Range — Heading Straight for 4,495?

Aug 11

Hi traders,

Gold has just completed a breakout from the sideways accumulation zone around 4,320–4,360, following a consolidation phase where both the EMA34 and EMA89 were sloping upward. This breakout occurred with fairly decisive momentum, pushing price straight up to the current 4,415 zone with almost no significant pullback along the way.

What stands out to me is that the uptrend structure remains very strong — price has continued making higher highs since breaking out of the accumulation zone, indicating buying flow is still dominant. If this momentum continues, the next target falls into the 4,495 zone, which lines up closely with the psychological level near 4,500.

Zone to watch: Price holding above the 4,360 breakout zone, or a slight pullback here to retest before continuing
Confirmation: Price continues making higher highs/higher lows on the H1 timeframe, with no close back below the sideways range
Target: 4,494–4,495
Invalidation: H1 close below 4,360, returning to the accumulation zone

This is not investment advice — wishing you successful trading.

Aug 11

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