After a short-term rebound, XAUUSD is showing renewed weakness as price struggles below the descending trendline and the Ichimoku resistance area. The recovery toward 4,430–4,440 has so far failed to change the broader bearish structure, keeping sellers in control.
In terms of news, gold is under pressure as rising oil prices revive inflation concerns, while strong U.S. employment data has increased expectations that the Federal Reserve could raise rates again. Markets are currently pricing roughly a 60% probability of a Fed rate hike, making upcoming U.S. inflation data especially important. Higher rate expectations remain a headwind for non-yielding gold, even though a softer U.S. dollar is providing some support.
Looking at the H3 chart, the technical structure also supports a bearish scenario:
Price has been repeatedly rejected from the descending trendline.
The 4,425–4,440 area overlaps with trendline resistance and the upper Ichimoku zone.
Price is now trading around 4,393, showing that the latest rebound has already lost momentum.
The 4,360–4,385 zone is the nearest support. A decisive break below this area could accelerate selling pressure toward the lower demand zone.
📉 Main Scenario
Resistance: 4,425–4,440
Support: 4,360–4,385
Target: 4,280–4,300
As long as XAUUSD remains below the descending trendline and fails to reclaim 4,440, I continue to favor the bearish scenario. A breakdown below 4,360 would strengthen the case for another move toward 4,280–4,300.
In terms of news, gold is under pressure as rising oil prices revive inflation concerns, while strong U.S. employment data has increased expectations that the Federal Reserve could raise rates again. Markets are currently pricing roughly a 60% probability of a Fed rate hike, making upcoming U.S. inflation data especially important. Higher rate expectations remain a headwind for non-yielding gold, even though a softer U.S. dollar is providing some support.
Looking at the H3 chart, the technical structure also supports a bearish scenario:
Price has been repeatedly rejected from the descending trendline.
The 4,425–4,440 area overlaps with trendline resistance and the upper Ichimoku zone.
Price is now trading around 4,393, showing that the latest rebound has already lost momentum.
The 4,360–4,385 zone is the nearest support. A decisive break below this area could accelerate selling pressure toward the lower demand zone.
📉 Main Scenario
Resistance: 4,425–4,440
Support: 4,360–4,385
Target: 4,280–4,300
As long as XAUUSD remains below the descending trendline and fails to reclaim 4,440, I continue to favor the bearish scenario. A breakdown below 4,360 would strengthen the case for another move toward 4,280–4,300.
Trade active
Trade closed: target reached
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Free daily Forex, Gold, Crypto setups with reasoning
Entry, invalidation, targets and reviews
👉 Join free: t.me/+-HowPr1J4k03NGY1
Educational only. Not financial advice. Trading involves risk.
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.