XAUUSD H1: Strong Momentum, Structure Near a Decision PointHello, I’m Amelia.
Taking a closer look at the XAUUSD H1 chart, I continue to see a clear and well-controlled uptrend. Price is moving cleanly within an ascending channel, maintaining a consistent sequence of higher highs and higher lows. The most recent strong bullish leg confirms that buyers are firmly in control. However, price is now trading some distance away from its short-term support, and in conditions like this, the market usually requires a technical pullback to rebalance supply and demand before continuing in the primary direction.
From a macro perspective, gold is still benefiting from a prolonged environment of uncertainty and a defensive market mindset. Expectations of a cautious monetary policy stance, combined with the absence of a clear and aggressive easing cycle, mean there is not yet sufficient pressure to trigger a meaningful bearish reversal in gold. This backdrop explains why upside moves are often accompanied by short-term volatility and corrective phases, rather than a straight, uninterrupted rally.
The zone I am watching most closely is the 5,380–5,420 area, where internal channel support aligns with the 0.5–0.618 Fibonacci retracement of the latest impulsive move. In momentum-driven uptrends, I frequently see a familiar pattern: a sharp advance that fuels breakout sentiment, followed by a pullback to test structural support. If price revisits this area and shows a clear buying reaction, the bullish structure remains clean and technically sound.
In a constructive scenario, I would expect price to rotate higher toward the 5,550–5,580 resistance zone. A successful retest and hold above this region would reinforce the case for trend continuation within the ascending channel. At this stage, I continue to treat any short-term weakness as a technical pullback within a dominant uptrend, rather than a reversal signal.
Wishing you disciplined and successful trading.
