Gold(
XAUUSD) bounced from two days ago mainly due to oversold conditions and margin-unwind dynamics, and touched the targets of my previous idea.
But the fundamental short case is still valid: the U.S. Dollar has near-term support, and if DXY(
DXY) firms up again it usually caps Gold’s upside—especially with the US 10Y yield around 4.29%(
US10Y).
At the same time, the partial U.S. government shutdown and delayed key releases add uncertainty, which typically supports safe-haven demand.
My bias: look for shorts on failed follow-through (weak bounce) while Dollar/yields stay bid.
If DXY rallies again, can Gold reclaim today’s highs?
Let’s dive into a technical analysis of gold on the 1-hour timeframe.
Currently, gold is moving within the resistance zone($4,991-$4,878) and near the Potential Reversal Zone(PRZ)[$5,042-$4,935].
From an Elliott Wave perspective, the recent +10% rise in gold over the last two days is likely a corrective structure, most likely a zigzag correction(ABC/5-3-5).
I expect that AFTER breaking the support lines, gold will decline at least to $4,707 and fill the lower gap($4,695-$4,661).
First Target: $4,707
Second Target: $4,569
Stop Loss(SL): $5,079
Points may shift as the market evolves
Can gold resume its bullish trend, or should we expect deeper corrections?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 Gold Analyze (XAUUSD), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
XAUUSD) bounced from two days ago mainly due to oversold conditions and margin-unwind dynamics, and touched the targets of my previous idea.But the fundamental short case is still valid: the U.S. Dollar has near-term support, and if DXY(
DXY) firms up again it usually caps Gold’s upside—especially with the US 10Y yield around 4.29%(US10Y).At the same time, the partial U.S. government shutdown and delayed key releases add uncertainty, which typically supports safe-haven demand.
My bias: look for shorts on failed follow-through (weak bounce) while Dollar/yields stay bid.
If DXY rallies again, can Gold reclaim today’s highs?
Let’s dive into a technical analysis of gold on the 1-hour timeframe.
Currently, gold is moving within the resistance zone($4,991-$4,878) and near the Potential Reversal Zone(PRZ)[$5,042-$4,935].
From an Elliott Wave perspective, the recent +10% rise in gold over the last two days is likely a corrective structure, most likely a zigzag correction(ABC/5-3-5).
I expect that AFTER breaking the support lines, gold will decline at least to $4,707 and fill the lower gap($4,695-$4,661).
First Target: $4,707
Second Target: $4,569
Stop Loss(SL): $5,079
Points may shift as the market evolves
Can gold resume its bullish trend, or should we expect deeper corrections?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 Gold Analyze (XAUUSD), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
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I think we can expect a correction as long as gold does not break above $5,200 and the resistance zone($5,172-$5,097). Meanwhile, the upward trend in gold over the past two days has not been with large volume, and even volume divergence is seen, and the resistance zone($4,991-$4,878) has not been broken with large momentum and volume.
I am still short on gold. But the main trend of gold will become more clear as the US markets open (New York time).
Gold at ~$5050 today, up +15% in rebound from recent crash.
Bullish drivers: Central bank demand, US-Iran tensions, Fed rate cut bets. But Warsh Fed nomination strengthened USD, adding bearish pressure.
Today's indices (ADP ~46K forecast, ISM Services ~53.5) are key: Strong data = short-term bearish; weak = bullish.
Please don't forget to follow capital management
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🎁 Free VIP Forex and Crypto Signals, please visit:
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🎁 Free VIP Forex and Crypto Signals, please visit:
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İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.