XAUUSD | Daily Technical Outlook
Market Structure
XAUUSD remains in a broader bullish structure on the daily timeframe, but momentum has clearly cooled after the strong rally toward the recent highs near the $5,550 area. Following the sharp rejection from the peak, price entered a corrective phase and is now consolidating around the psychological $5,000 zone.
The recent pullback shows lower highs forming on the lower timeframes, while the daily structure still holds above major trend support. This suggests a corrective decline within a broader uptrend rather than a confirmed trend reversal — at least for now.
Key Resistance Zone
Immediate resistance is located at:
- $5,080 – $5,120 (recent rejection area)
A break above this zone would open the door toward:
- $5,250
- $5,400 – $5,450 (major supply area near previous highs)
As long as price remains below $5,120, short-term pressure remains tilted to the downside.
Key Support Zone
Strong support is currently positioned at:
- $4,980 – $5,000 (psychological and structural support)
A breakdown below $4,980 would expose:
- $4,900
- $4,750 – $4,800 (major correction support zone)
A sustained move below $4,750 would signal a deeper structural correction.
Expectations
Bearish Scenario (Short-Term)
If Gold fails to reclaim $5,080 and breaks below $4,980, selling pressure could accelerate toward $4,900, with potential extension toward $4,750.
Bullish Scenario (Primary Structure)
If price stabilizes above $5,000 and reclaims $5,120, buyers may regain control, targeting $5,250 and potentially retesting the $5,400+ highs.
Outlook
Gold is currently in a corrective phase within a broader bullish trend. The $5,000 zone is critical. Holding above it keeps the larger uptrend intact, while a break below $4,980 could trigger a deeper retracement before any continuation higher.
