XAUUSD – Strong Resistance at 3760–3770 Await Confirmation

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Hello trader,

Gold continues to oscillate within an accumulation zone following its recent recovery. While the overall trend leans towards an increase, a stronger breakout requires clear confirmation at key resistance-support levels.

Strong Resistance: 3760 – 3770, confluence with the Fibonacci extension zone. This is a pivotal level if the price aims to set a new ATH in the mid-term.

Key Level Sell: 3685 – 3695, currently a short-term resistance zone. If the price fails to break through, gold may face downward pressure.

Important Support:
3564 – 3574: mid-term support.
3534 – 3540: deep support zone, aligning with previous liquidity.
MACD H4: Histogram remains weak, momentum is unclear → the market needs further confirmation to clarify the trend direction.

Trading Scenarios

Bullish Scenario

Condition: Price breaks above 3695 and holds.
Entry: Retest 3665 – 3668.
Target: 3680-3698-3715-3730 – 3760 – 3770.
Extension: If successfully surpassing 3770 → expect a move towards 3800+.

Bearish Scenario

Condition: Price fails at 3695 and reverses.
Entry: Sell at 3685 – 3695 when a rejection signal appears.
Target: 3672-3655-3635 – 3600 – 3574.
Extension: If 3574 breaks, the decline may target 3540, or even lower.

Mid-term Scenario

Price may retest 3534 – 3550 to gather liquidity, then rebound according to the larger trend. This will be an attractive long-term Buy zone.

The gold market is at a crucial stage: buyers need to break 3695 to confirm an uptrend, while sellers still have opportunities at the short-term resistance zone. Deep support areas will continue to serve as the foundation for mid-term Buy strategies.

Keep a close eye on the 3695 and 3760 – 3770 zones to determine the next direction.
Stay tuned for the latest scenarios as the price structure evolves.

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