Trump eases tariffs, precious metals reverse course after surge.I view the current OANDA:XAUUSD chart as a familiar market story: after a strong rally, price pauses, consolidates, and shakes out weak hands before continuing higher within a well-defined ascending channel. The primary momentum has not been broken.
• First, the trend structure remains intact, with higher highs and higher lows. Price is moving within an upward price channel, and each corrective move has been contained near the lower boundary of the channel or key moving averages.
• Second, former Fibonacci resistance levels have turned into support. The 0.5–0.382 zone has acted as a “base,” where buying interest consistently emerges whenever the market experiences volatility. This is a classic signal of a healthy uptrend: price does not need deep corrections to attract new capital.
• Third, momentum has not been disrupted. RSI remains above the neutral zone and is showing signs of holding a base rather than forming a clear bearish divergence. This suggests that while profit-taking pressure exists, it is not strong enough to reverse the prevailing trend.
From a macro perspective, gold continues to be “backed” by the narrative of low real interest rates, prolonged geopolitical uncertainty, and growing doubts about the stability of the global financial order. Defensive capital has not exited the precious metals market; it has merely paused to reassess.
In terms of technical targets, if price continues to hold current support and resumes its upward move, the next objective lies in the 4,680–4,750 USD zone, aligned with the upper boundary of the price channel and Fibonacci extensions. This is an area where the market is likely to test supply.
Key risk to monitor: if a clear breakdown occurs below the 0.382–0.5 support zone with a decisive close beneath the ascending channel, a deeper correction toward the 4,430–4,380 USD area would be activated. However, under current conditions, this would still represent a correction within an uptrend rather than a trend reversal.
In summary, within the current gold market narrative, pullbacks are not signals to exit, but rather necessary pauses that allow new capital to enter. As long as macro uncertainty persists and the technical structure remains intact, the dominant trend continues to point higher.
SELL XAUUSD PRICE 4652 - 4650⚡️
↠↠ Stop Loss 4656
→Take Profit 1 4644
↨
→Take Profit 2 4638
BUY XAUUSD PRICE 4558 - 4560⚡️
↠↠ Stop Loss 4554
→Take Profit 1 4566↨
→Take Profit 2 4572
