XAU/USD remains under bearish pressure on the 4-hour timeframe. Until price breaks and closes above $3,336 with strength, selling the rallies remains a preferred strategy. However, watch for potential bounces near support zones, especially if momentum weakens or reversal candles appear. The price is currently trading below both the 50, 100 and 200 EMA, indicating a short-term downtrend. The recent price action has respected the trendline resistance and failed to break higher, reinforcing sellers’ control.
Price structure has formed a descending channel, which often signals a bearish continuation. However, if price finds a strong reaction from support, a temporary rebound could occur before further downside. Overall sentiment is cautious due to recent geopolitical de-escalation between Iran and Israel, which reduced gold’s safe-haven demand. Dollar strength, driven by hawkish Fed tone, continues to pressure gold.
Key Support Levels:
$3,295 – A minor support where previous candles showed buying interest.
$3,289 – Critical horizontal support and psychological level.
$3,270 – Next significant support if $3,289 breaks.
$3,240 – Major support zone, last line before larger downside moves.
Key Resistance Levels:
$3,310 – Near-term resistance and EMA zone.
$3,320 – Price rejection level from earlier 4H candles.
$3,336 – Strong resistance with previous swing highs.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Price structure has formed a descending channel, which often signals a bearish continuation. However, if price finds a strong reaction from support, a temporary rebound could occur before further downside. Overall sentiment is cautious due to recent geopolitical de-escalation between Iran and Israel, which reduced gold’s safe-haven demand. Dollar strength, driven by hawkish Fed tone, continues to pressure gold.
Key Support Levels:
$3,295 – A minor support where previous candles showed buying interest.
$3,289 – Critical horizontal support and psychological level.
$3,270 – Next significant support if $3,289 breaks.
$3,240 – Major support zone, last line before larger downside moves.
Key Resistance Levels:
$3,310 – Near-term resistance and EMA zone.
$3,320 – Price rejection level from earlier 4H candles.
$3,336 – Strong resistance with previous swing highs.
Note
Please risk management in trading is a Key so use your money accordingly. If you like the idea then please like and boost. Thank you and Good Luck!
Trade active
Trade closed: target reached
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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.
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.