XAUUSD – Retesting Support Before the Next Upside MoveHello, I'm Camila.
Observing the H4 chart, I can see that gold has proactively pulled back to rete afterhow the market is reacting at lower prices. Instead of continued selling pressure, the current candles show a clear loss of bearish momentum, while buying interest is beginning to re-emerge. This is typical behavior in a healthy uptrend, where the market reassesses its foundation before committing to the next move.
From a structural perspective, the bullish trend remains intact. Price is still trading above the ascending trendline, and there are no confirmed signals of a structural breakdown. The recent volatility appears to be more about rebalancing supply and demand than distribution. In momentum-driven uptrends, pullbacks to test support are not signs of weakness; they are often necessary steps to determine whether buyers are still committed to defending higher prices.
On the fundamental side, the broader backdrop continues to favor gold. Ongoing global economic and geopolitical risks remain unresolved, sustaining demand for safe-haven assets. At the same time, expectations that the Federal Reserve will maintain a relatively accommodative policy stance help limit upside pressure on the U.S. dollar and Treasury yields. However, with a busy U.S. economic calendar ahead, upcoming data releases could generate uneven intraday volatility, making it unlikely for gold to move in a straight line and more likely to continue its familiar “advance-and-pause” rhythm.
The area I am watching most closely is the current support zone, where price is now reacting. If gold continues to hold this area and shows clearer buying responses, the bullish structure will be further reinforced. In such scenarios, the market often completes its base-building process before resuming the broader trend that has already been established.
Wishing you disciplined and successful trading.
