Gold on the H4 chart is maintaining a steady uptrend, consistently forming higher lows while respecting the ascending trendline and both key EMAs (EMA34 & EMA89). After a brief pullback, price is now approaching a major resistance zone around 3,441 USD — a level that previously rejected bullish attempts.
The market structure suggests two possible scenarios:
If price breaks above 3,441 USD with strong buying pressure, the uptrend will be confirmed and could extend toward higher levels.
Conversely, if rejected again, price may retreat toward the support zone at 3,347–3,356 USD for accumulation before resuming the upward move.
On the fundamental side, expectations of a Fed rate cut—driven by significantly weaker U.S. retail sales—are pressuring the USD, which in turn supports gold prices in the short term.
The market structure suggests two possible scenarios:
If price breaks above 3,441 USD with strong buying pressure, the uptrend will be confirmed and could extend toward higher levels.
Conversely, if rejected again, price may retreat toward the support zone at 3,347–3,356 USD for accumulation before resuming the upward move.
On the fundamental side, expectations of a Fed rate cut—driven by significantly weaker U.S. retail sales—are pressuring the USD, which in turn supports gold prices in the short term.
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.