Gold is currently trading inside a critical support and resistance range after rejecting the 4760-4770 resistance zone on the H1 chart. Price is now hovering around the descending trendline near 4695 while the 4670-4650 support area remains the key bullish demand zone. Technically gold still holds bullish recovery potential as long as buyers defend the 4650 region and the chart structure suggests a possible liquidity sweep before another push toward 4740 and potentially 4780+.
Today’s US CPI news is the major catalyst for volatility with markets expecting inflation to remain elevated due to rising oil prices and geopolitical tensions. A higher than expected CPI could strengthen the US Dollar and pressure gold toward 4670-4650 support while softer inflation data may weaken the dollar and trigger a strong bullish breakout above 4740 resistance.
Traders should expect sharp price swings around the CPI release and manage risk carefully.
Trade Plan – Buy Setup
Buy Zone: 4660-4685
Targets: 4720, 4760, 4820
Invalidation: H1-H4 close below 4645
Trade Plan – Sell Setup
Sell Zone: 4725-4755
Targets: 4700, 4675, 4650
Invalidation: H1-H4 close above 4770
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Today’s US CPI news is the major catalyst for volatility with markets expecting inflation to remain elevated due to rising oil prices and geopolitical tensions. A higher than expected CPI could strengthen the US Dollar and pressure gold toward 4670-4650 support while softer inflation data may weaken the dollar and trigger a strong bullish breakout above 4740 resistance.
Traders should expect sharp price swings around the CPI release and manage risk carefully.
Trade Plan – Buy Setup
Buy Zone: 4660-4685
Targets: 4720, 4760, 4820
Invalidation: H1-H4 close below 4645
Trade Plan – Sell Setup
Sell Zone: 4725-4755
Targets: 4700, 4675, 4650
Invalidation: H1-H4 close above 4770
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
交易开始
Gold is currently holding above the key 4680-4670 support zone after a strong bullish recovery from the 4640 demand area. On the 30M chart price is trading near the descending trendline around 4705 where short-term resistance is slowing momentum. However the structure still favors buyers as long as gold stays above 4670 and continues forming higher lows. A breakout above the trendline and 4720 resistance could open the way toward 4760 and 4780 in the coming sessions.
If sellers push price below 4670 then a retest of 4650-4640 support becomes possible before buyers step in again.
Key levels to watch:
- Resistance: 4705, 4727, 4761, 4782
- Support: 4693, 4683, 4672, 4640
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