Hi traders, what are your thoughts on this consolidation zone below 4,400?
XAUUSD is losing momentum after its previous rally. The price is constantly being blocked by the downward sloping resistance line, while the 4,390–4,400 area has yet to be convincingly reclaimed by buyers.
On the H1 timeframe, I'm leaning towards a correction to the 4,300–4,340 zone, which has both an upward support line and a notable previous reaction zone.
🎯 Target zone: 4,300–4,340
If the H1 timeframe breaks the resistance line and holds firmly above 4,400–4,420, this short-term bearish scenario will weaken.
AURICVERSE View: This still leans more towards a technical pullback than a major trend reversal. For now, the reaction around 4,400 will determine whether sellers have enough strength to pull gold back to the 4,340 region.
How are you reading this structure? Share your view below.
XAUUSD is losing momentum after its previous rally. The price is constantly being blocked by the downward sloping resistance line, while the 4,390–4,400 area has yet to be convincingly reclaimed by buyers.On the H1 timeframe, I'm leaning towards a correction to the 4,300–4,340 zone, which has both an upward support line and a notable previous reaction zone.
🎯 Target zone: 4,300–4,340
If the H1 timeframe breaks the resistance line and holds firmly above 4,400–4,420, this short-term bearish scenario will weaken.
AURICVERSE View: This still leans more towards a technical pullback than a major trend reversal. For now, the reaction around 4,400 will determine whether sellers have enough strength to pull gold back to the 4,340 region.
How are you reading this structure? Share your view below.
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⚡ Follow AuricVerse_HQ beyond the chart.
Join AURICVERSE GOLD for XAUUSD analysis, Forex, Crypto & trader discussions:
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