Hello everyone,
Looking at the H4 chart of
XAUUSD , gold is struggling to clear the heavy resistance zone between $3,380 and $3,385, which coincides with both a supply-based Fair Value Gap and the upper edge of the Kumo cloud. Price action here shows strong selling pressure, with short-bodied candles, long wicks, and muted volume, all of which suggest that buyers lack the conviction to push higher. Unless this zone is decisively broken, momentum points towards a short-term pullback, potentially dragging prices back to $3,355 and then $3,345.
From a macro perspective, today’s release of the US PCE inflation index will be critical. A stronger-than-expected print could reinforce expectations of tighter Fed policy, weighing on gold. Political uncertainty following President Trump’s move against a Fed governor adds another layer of volatility. Traders are now faced with a key question: does gold lose steam and retreat, or is a breakout towards $3,400–$3,425 still on the cards?
What do you think about this setup? Share your thoughts below!
Looking at the H4 chart of
XAUUSD , gold is struggling to clear the heavy resistance zone between $3,380 and $3,385, which coincides with both a supply-based Fair Value Gap and the upper edge of the Kumo cloud. Price action here shows strong selling pressure, with short-bodied candles, long wicks, and muted volume, all of which suggest that buyers lack the conviction to push higher. Unless this zone is decisively broken, momentum points towards a short-term pullback, potentially dragging prices back to $3,355 and then $3,345. From a macro perspective, today’s release of the US PCE inflation index will be critical. A stronger-than-expected print could reinforce expectations of tighter Fed policy, weighing on gold. Political uncertainty following President Trump’s move against a Fed governor adds another layer of volatility. Traders are now faced with a key question: does gold lose steam and retreat, or is a breakout towards $3,400–$3,425 still on the cards?
What do you think about this setup? Share your thoughts below!
Trade active
Note
The price has currently reached the 3400 level (the green zone I marked) and is showing signs of a reversal.
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📊 Instant insights.
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📊 Instant insights.
📬 Precision signals.
👨🏫 Real coaching. Real results.
👉🏻Join here: t.me/+jBAj1Jdf4vY1NzM1
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.