XAUUSD is currently undergoing a mild pullback following its latest upward move. Price formed a small gap and quickly moved back to fill it, suggesting that the market is rebalancing rather than facing strong selling pressure. More importantly, the demand zone below remains well protected, as each dip continues to attract renewed buying interest.If buyers maintain control around this area, buying pressure could gradually build and push price toward 4,140, a target that aligns with the upper boundary of the current ascending channel.
However, a clear break below the demand zone would weaken the bullish outlook. Before considering long positions, traders should look for confirmation signals such as lower-wick rejection, a bullish engulfing candle, or a noticeable increase in buying volume.
If you agree with this analysis or have a different view, feel free to share your thoughts in the comments!
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