Gold May See a Short-Term Pullback Before Continuing Higher
📊 Market Overview:
Global gold prices (XAU/USD) are currently fluctuating around the 4,700 USD/oz area after facing short-term profit-taking pressure. The main reason comes from the recovery of the US Dollar and rising US Treasury yields following higher-than-expected US inflation data. However, safe-haven demand remains strong as geopolitical tensions in the Middle East have not eased, helping gold stay above key support levels.
📉 Technical Analysis:
• Key resistance levels:
o 4,725 – 4,730 USD
o 4,748 – 4,755 USD
• Nearest support levels:
o 4,685 – 4,680 USD
o 4,655 – 4,650 USD
• EMA: Price is still trading above the EMA 09 on the H1 timeframe, indicating that the short-term trend remains bullish.
• Candlestick / volume / momentum patterns:
o Small-bodied candles with long wicks are appearing around the 4,725 USD zone, showing selling pressure reacting at resistance.
o Trading volume has declined slightly during the pullback, suggesting that selling pressure is not yet too strong.
o H1 RSI has dropped from overbought territory to around 55–60, creating room for another upward move if support remains intact.
📌 Outlook:
Gold may see a short-term pullback toward the 4,685 – 4,680 USD zone before continuing its upward trend if this support area holds. However, if the price breaks below 4,650 USD, bearish pressure could extend toward lower levels.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD: 4,725 – 4,730
🎯 TP: 40 / 80 / 200 pips
🛑 SL: 4,733
🔺 BUY XAU/USD: 4,685 – 4,680
🎯 TP: 40 / 80 / 200 pips
🛑 SL: 4,677
Global gold prices (XAU/USD) are currently fluctuating around the 4,700 USD/oz area after facing short-term profit-taking pressure. The main reason comes from the recovery of the US Dollar and rising US Treasury yields following higher-than-expected US inflation data. However, safe-haven demand remains strong as geopolitical tensions in the Middle East have not eased, helping gold stay above key support levels.
📉 Technical Analysis:
• Key resistance levels:
o 4,725 – 4,730 USD
o 4,748 – 4,755 USD
• Nearest support levels:
o 4,685 – 4,680 USD
o 4,655 – 4,650 USD
• EMA: Price is still trading above the EMA 09 on the H1 timeframe, indicating that the short-term trend remains bullish.
• Candlestick / volume / momentum patterns:
o Small-bodied candles with long wicks are appearing around the 4,725 USD zone, showing selling pressure reacting at resistance.
o Trading volume has declined slightly during the pullback, suggesting that selling pressure is not yet too strong.
o H1 RSI has dropped from overbought territory to around 55–60, creating room for another upward move if support remains intact.
📌 Outlook:
Gold may see a short-term pullback toward the 4,685 – 4,680 USD zone before continuing its upward trend if this support area holds. However, if the price breaks below 4,650 USD, bearish pressure could extend toward lower levels.
💡 Suggested Trading Strategy:
🔻 SELL XAU/USD: 4,725 – 4,730
🎯 TP: 40 / 80 / 200 pips
🛑 SL: 4,733
🔺 BUY XAU/USD: 4,685 – 4,680
🎯 TP: 40 / 80 / 200 pips
🛑 SL: 4,677
تم فتح الصفقة
If the price holds firmly above 4,695–4,700 USD, gold could continue rising toward 4,725 USD and further to 4,750 USD.أغلقت الصفقة: تم الوصول للهدف
Gold may continue to decline in the short term if it remains below the 4,690–4,695 USD area
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💡 Technical breakdowns & market outlooks
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📰 Real-time news updates & expert analysis
💡 Technical breakdowns & market outlooks
🔗 Join our free group: telegram.me/+DmS-dVFJMm40MDM9
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.