Is Gold Just Resting — or Ready to Rise Again?Hello traders, let’s take a look at XAUUSD together today!
At the moment, XAUUSD looks like a wave pulling back only to gather momentum — not weakening, but preparing for the next upward move . After hitting a six-week high, gold is seeing some light profit-taking, but the macro backdrop still leans strongly toward the bulls: the Fed is sending dovish signals , the USD is weakening, and soft U.S. data continues to support this mild bullish trend .
Looking at the chart, price was previously rejected at the upper resistance zone and has now pulled away from the descending resistance line. Even so, the overall bullish structure remains intact . Gold is heading toward the 4,170 support zone, which aligns with a strong previous reaction area — and may dip slightly deeper into 4,120, a confluence of old lows and a strong rejection zone. These are the two areas where buyers are most likely to return .
The high-probability scenario: XAUUSD taps 4,170, forms a consolidation base, and then rebounds toward 4,250. If sellers push price further to 4,120, this will become the last critical support before gold triggers its next upward wave. Only a clear break below 4,120 would significantly threaten the mild bullish outlook.
For now, the main story remains unchanged: gold is correcting, not reversing . And every pullback toward support continues to be an opportunity to watch for the buyers’ return — to fuel the next bullish leg in the days ahead.
