Following a recovery from the low near 3,960, XAUUSD is gradually moving up to test the downtrend line that has been in place since the beginning of the month. Notably, selling pressure emerges quickly whenever the price approaches this dynamic resistance level, creating a series of lower highs and reinforcing the bearish trend on the H4 timeframe. Current market structure suggests this is likely just a technical rebound rather than the start of a new uptrend.
Resistance around 4,049 lies just below the Ichimoku cloud, forming a confluence zone that sellers have strong grounds to defend. If the price shows signs of rejection in this area, bearish pressure could quickly return, dragging gold down to the 3,935 support level—a zone that has previously attracted buying interest.
From a fundamental perspective, gold remains under pressure as the US dollar and US bond yields hold at elevated levels following hawkish remarks from the Fed. The market continues to price in the likelihood of interest rates remaining high for longer, diminishing the appeal of non-yielding assets like gold.
Trading strategy: Prioritize selling around 4,049, with a target of 3,935.
Resistance around 4,049 lies just below the Ichimoku cloud, forming a confluence zone that sellers have strong grounds to defend. If the price shows signs of rejection in this area, bearish pressure could quickly return, dragging gold down to the 3,935 support level—a zone that has previously attracted buying interest.
From a fundamental perspective, gold remains under pressure as the US dollar and US bond yields hold at elevated levels following hawkish remarks from the Fed. The market continues to price in the likelihood of interest rates remaining high for longer, diminishing the appeal of non-yielding assets like gold.
Trading strategy: Prioritize selling around 4,049, with a target of 3,935.
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👉t.me/+aoROTvcQl3k4MzA1
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
👉t.me/+aoROTvcQl3k4MzA1
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。