Hello everyone, looking at XAU/USD on the 4H timeframe today, I can clearly feel that gold has just gone through a very “textbook” correction after major news. From the 4,130 USD peak, price dropped quickly to 4,079 USD, losing more than 50 USD in a single session. At the moment, gold is trading around 4,090 USD, sitting below the Ichimoku cloud and having just filled part of the FVG around 4,100 — showing that sellers are still in control.
Technically, gold failed to break through the 4,130–4,150 USD resistance cluster. Last night’s sharp drop broke below the short-term support at 4,100, triggering a wave of profit-taking from earlier long positions. Now, the area at 4,070–4,050 USD is the nearest support and the level gold must defend to avoid a deeper decline towards 4,020–4,000 USD. Conversely, to return to an upward move, gold needs to reclaim 4,110 decisively — otherwise any rebound will likely be temporary.
Fundamentally, the market was moved just as much by news as by technicals. The FOMC minutes showed the Fed is still divided: one side worried about weakening labour data, the other insisting inflation hasn’t behaved consistently. This dampened expectations for an early rate cut, strengthening the USD, pushing DXY above 104 — and immediately weighing on gold. At the same time, Nvidia’s blowout earnings sent US equities sharply higher as money rotated into AI stocks, reducing gold’s appeal during a “risk-on” wave.
In this context, I see this as a healthy correction within a broader uptrend — not a reversal. Based on the way price is reacting, gold will likely retest 4,070–4,050 USD before attempting a rebound. If buyers return at that zone, price may recover toward 4,110–4,130 USD, especially if the USD pauses. If 4,050 breaks, gold may drop deeper to 4,020–4,000 USD to attract liquidity.
Technically, gold failed to break through the 4,130–4,150 USD resistance cluster. Last night’s sharp drop broke below the short-term support at 4,100, triggering a wave of profit-taking from earlier long positions. Now, the area at 4,070–4,050 USD is the nearest support and the level gold must defend to avoid a deeper decline towards 4,020–4,000 USD. Conversely, to return to an upward move, gold needs to reclaim 4,110 decisively — otherwise any rebound will likely be temporary.
Fundamentally, the market was moved just as much by news as by technicals. The FOMC minutes showed the Fed is still divided: one side worried about weakening labour data, the other insisting inflation hasn’t behaved consistently. This dampened expectations for an early rate cut, strengthening the USD, pushing DXY above 104 — and immediately weighing on gold. At the same time, Nvidia’s blowout earnings sent US equities sharply higher as money rotated into AI stocks, reducing gold’s appeal during a “risk-on” wave.
In this context, I see this as a healthy correction within a broader uptrend — not a reversal. Based on the way price is reacting, gold will likely retest 4,070–4,050 USD before attempting a rebound. If buyers return at that zone, price may recover toward 4,110–4,130 USD, especially if the USD pauses. If 4,050 breaks, gold may drop deeper to 4,020–4,000 USD to attract liquidity.
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