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
Trade ativo
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.Trade fechado: objetivo atingido
Gold may continue to decline in the short term if it remains below the 4,690–4,695 USD area
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📊 Forex | Gold | Crypto Market Insights
📰 Real-time news updates & expert analysis
💡 Technical breakdowns & market outlooks
🔗 Join our free group: telegram.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
💡 Technical breakdowns & market outlooks
🔗 Join our free group: telegram.me/+DmS-dVFJMm40MDM9
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.