In yesterday’s analysis, I pointed out that while 
XAUUSD remains technically bullish, the signs of a potential reversal were already piling up.
That view played out quickly: after spiking above 3700 on the Fed’s decision — which triggered my sell orders — gold reversed sharply, dropping all the way to a local bottom near 3645.
The market then staged a natural rebound after such a violent sell-off, and at the time of writing, price is consolidating around 3655. Interestingly, this was last week’s resistance, now acting as short-term support.
Looking ahead, I believe the correction of the nearly 4,000-pip rally in less than a month is far from over. A fresh drop could be next.
For the bears, the key levels to watch are:
• 3620 – the first checkpoint for potential downside continuation
• 3560-3670 – a stronger support zone I’ve highlighted before, aligning with the 38% Fibonacci retracement of the latest rally
A move towards these levels would still be a healthy correction within the broader bullish context — not at all an out-of-the-question scenario. 🚀
XAUUSD remains technically bullish, the signs of a potential reversal were already piling up.That view played out quickly: after spiking above 3700 on the Fed’s decision — which triggered my sell orders — gold reversed sharply, dropping all the way to a local bottom near 3645.
The market then staged a natural rebound after such a violent sell-off, and at the time of writing, price is consolidating around 3655. Interestingly, this was last week’s resistance, now acting as short-term support.
Looking ahead, I believe the correction of the nearly 4,000-pip rally in less than a month is far from over. A fresh drop could be next.
For the bears, the key levels to watch are:
• 3620 – the first checkpoint for potential downside continuation
• 3560-3670 – a stronger support zone I’ve highlighted before, aligning with the 38% Fibonacci retracement of the latest rally
A move towards these levels would still be a healthy correction within the broader bullish context — not at all an out-of-the-question scenario. 🚀
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🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Похожие публикации
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.