Fundamental Analysis
Gold climbed to a two-week high as technical buying and renewed tensions in the Middle East boosted demand for safe-haven assets. However, the US Dollar remains close to a one-week high, while US Treasury yields continue to stay firm, which may restrict further upside ahead of the Federal Reserve's policy meeting on 28–29 July.
Technical Analysis
On the 1H chart, XAUUSD is trading around 4,124 after breaking above the descending channel and extending its rally towards the previous 4,130–4,140 swing high. The preferred buying area is 4,082–4,097, where the breakout structure aligns with the 0.382–0.5 Fibonacci retracement levels.
If the price retests this zone and holds with bullish confirmation, gold could reclaim 4,140 before extending towards the 4,175–4,180 target area.
Important Price Levels
Current Price: 4,124.13
Primary Buy Zone: 4,082–4,097
Short-term Support: 4,038–4,045
Short-term Resistance: 4,130–4,140
Liquidity Zone: 4,130–4,140
Primary Target: 4,175–4,180
Invalidation Level: Below 4,038
Trading Plan
Main Buy Setup
Entry: 4,082–4,097
Stop Loss: 4,038
Take Profit 1: 4,130
Take Profit 2: 4,140
Take Profit 3: 4,175–4,180
Buy Confirmation
Wait for a controlled pullback into the primary buy zone. A long lower wick, a bullish engulfing candle, a failed breakdown, or a 1H candle closing back above 4,097 may confirm renewed buying interest.
If the price breaks below 4,038 and sustains beneath that level, the bullish setup will no longer remain valid.
Overall Outlook
The 1H market structure remains bullish following the breakout above the descending channel. However, chasing the price near 4,130 may not offer an attractive risk-to-reward ratio. The preferred approach is to wait for confirmation around 4,082–4,097, with the expectation of a breakout above 4,140 and further upside towards 4,175–4,180.
What do you think? Will gold retest the primary buy zone first, or break straight above 4,140 and continue higher?
Gold climbed to a two-week high as technical buying and renewed tensions in the Middle East boosted demand for safe-haven assets. However, the US Dollar remains close to a one-week high, while US Treasury yields continue to stay firm, which may restrict further upside ahead of the Federal Reserve's policy meeting on 28–29 July.
Technical Analysis
On the 1H chart, XAUUSD is trading around 4,124 after breaking above the descending channel and extending its rally towards the previous 4,130–4,140 swing high. The preferred buying area is 4,082–4,097, where the breakout structure aligns with the 0.382–0.5 Fibonacci retracement levels.
If the price retests this zone and holds with bullish confirmation, gold could reclaim 4,140 before extending towards the 4,175–4,180 target area.
Important Price Levels
Current Price: 4,124.13
Primary Buy Zone: 4,082–4,097
Short-term Support: 4,038–4,045
Short-term Resistance: 4,130–4,140
Liquidity Zone: 4,130–4,140
Primary Target: 4,175–4,180
Invalidation Level: Below 4,038
Trading Plan
Main Buy Setup
Entry: 4,082–4,097
Stop Loss: 4,038
Take Profit 1: 4,130
Take Profit 2: 4,140
Take Profit 3: 4,175–4,180
Buy Confirmation
Wait for a controlled pullback into the primary buy zone. A long lower wick, a bullish engulfing candle, a failed breakdown, or a 1H candle closing back above 4,097 may confirm renewed buying interest.
If the price breaks below 4,038 and sustains beneath that level, the bullish setup will no longer remain valid.
Overall Outlook
The 1H market structure remains bullish following the breakout above the descending channel. However, chasing the price near 4,130 may not offer an attractive risk-to-reward ratio. The preferred approach is to wait for confirmation around 4,082–4,097, with the expectation of a breakout above 4,140 and further upside towards 4,175–4,180.
What do you think? Will gold retest the primary buy zone first, or break straight above 4,140 and continue higher?
📊 XAU Macro Pulse · XAUUSD · GBPUSD · EURUSD
Every setup earns its place on the chart.
🔔 Follow the structure. The rest is noise.
Personal analysis only t.me/+TxpetmVvKGhjZDhl
Every setup earns its place on the chart.
🔔 Follow the structure. The rest is noise.
Personal analysis only t.me/+TxpetmVvKGhjZDhl
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📊 XAU Macro Pulse · XAUUSD · GBPUSD · EURUSD
Every setup earns its place on the chart.
🔔 Follow the structure. The rest is noise.
Personal analysis only t.me/+TxpetmVvKGhjZDhl
Every setup earns its place on the chart.
🔔 Follow the structure. The rest is noise.
Personal analysis only t.me/+TxpetmVvKGhjZDhl
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.