On the monthly chart, XAUUSD is forming an Inside Bar pattern, signaling that the market is compressing ahead of a potential strong move. May’s candle remains within April’s range – a classic setup that often precedes a decisive breakout.
On the H4 timeframe, gold has attempted to break above recent highs multiple times but failed, forming a series of lower highs, indicating a corrective structure. However, the recent rebound from May’s low suggests potential accumulation is underway.
Currently, price is hovering around a neutral zone. A clear break above the 3,400 level could spark a fast move toward the 3,500–3,600 range. Conversely, a drop below 3,120 would open the door for a deeper pullback toward 3,000.
From a macro perspective, long-term fundamentals continue to support the bullish case for gold, driven by dovish central bank policies, geopolitical risks, and concerns about USD debasement. Still, a confirmed technical breakout is needed to establish direction in the near term.
Strategy Summary
Buy zone to watch: 3,307 – 3,320
Bullish trigger: Holding above 3,300
Target: 3,435
Risks: False breakouts or failure to hold above the breakout zone
On the H4 timeframe, gold has attempted to break above recent highs multiple times but failed, forming a series of lower highs, indicating a corrective structure. However, the recent rebound from May’s low suggests potential accumulation is underway.
Currently, price is hovering around a neutral zone. A clear break above the 3,400 level could spark a fast move toward the 3,500–3,600 range. Conversely, a drop below 3,120 would open the door for a deeper pullback toward 3,000.
From a macro perspective, long-term fundamentals continue to support the bullish case for gold, driven by dovish central bank policies, geopolitical risks, and concerns about USD debasement. Still, a confirmed technical breakout is needed to establish direction in the near term.
Strategy Summary
Buy zone to watch: 3,307 – 3,320
Bullish trigger: Holding above 3,300
Target: 3,435
Risks: False breakouts or failure to hold above the breakout zone
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🪙 JOIN OUR FREE TELEGRAM GROUP 🪙
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️🥇 Support free trading signals
t.me/tradingchampionschannelJoin the community group to get support and share knowledge!
️🥇 Exchange and learn market knowledge
️🥇 Support free trading signals
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.