🔶 GOLD (XAUUSD) UPDATE
👉 Gold is currently trading around 4812 in the early European session, reversing sharply lower and losing the initial bullish momentum from the Asian session after hitting a four-week high.
👉 The downside move is supported by a cautiously optimistic market sentiment across Asia, following comments from Donald Trump suggesting that peace talks between the U.S. and Iran could resume within the next two days.
👉 Additionally, signs of stabilization in the Strait of Hormuz, along with easing oil prices, have reduced inflation concerns and further contributed to the current risk-on sentiment, putting pressure on gold.
📌 Technical Outlook
👉 Breakout of the 1H trendline signals that bullish momentum has weakened
👉 A bearish Elliott Wave structure is forming, indicating a corrective move after overbought conditions
👉 Price is reacting below key resistance zones
Overall market structure remains bearish in the short term 🔽
🔹 Resistance: 4835 ; 4850
🔹 Support: 4800 ; 4760
🔥 Today’s Bias: BEARISH Slightly
Wishing you successful trading day
👉 Gold is currently trading around 4812 in the early European session, reversing sharply lower and losing the initial bullish momentum from the Asian session after hitting a four-week high.
👉 The downside move is supported by a cautiously optimistic market sentiment across Asia, following comments from Donald Trump suggesting that peace talks between the U.S. and Iran could resume within the next two days.
👉 Additionally, signs of stabilization in the Strait of Hormuz, along with easing oil prices, have reduced inflation concerns and further contributed to the current risk-on sentiment, putting pressure on gold.
📌 Technical Outlook
👉 Breakout of the 1H trendline signals that bullish momentum has weakened
👉 A bearish Elliott Wave structure is forming, indicating a corrective move after overbought conditions
👉 Price is reacting below key resistance zones
Overall market structure remains bearish in the short term 🔽
🔹 Resistance: 4835 ; 4850
🔹 Support: 4800 ; 4760
🔥 Today’s Bias: BEARISH Slightly
Wishing you successful trading day
Trade ist aktiv
the plan still on track 
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.