XAUUSD | Daily Technical Outlook
Market Structure
XAUUSD remains in a strong bullish trend, maintaining higher highs and higher lows across higher timeframes. After an impulsive rally, price entered a brief consolidation phase, allowing momentum to cool without breaking the broader bullish structure.
The recent pullback was corrective in nature and held above key trend-support levels, signaling that buyers remain in control. Gold has since resumed upside pressure and is currently stabilizing just below recent highs near $5,090, suggesting a potential continuation phase rather than trend exhaustion.
Key Resistance Zone
The immediate resistance zone is located at $5,090 – $5,120, where price previously faced supply and short-term profit-taking. A clean break above this zone would confirm renewed bullish continuation.
Additional resistance levels:
• $5,150
• $5,200 (major psychological and extension level)
As long as gold trades below $5,120, short-term consolidation remains possible, but overall bullish structure stays intact.
Key Support Zone
Immediate support is located at $5,050 – $5,070, aligning with recent consolidation lows and short-term moving average support.
A deeper pullback could expose:
• $5,000 – $5,020
• $4,960 (key bullish structure support)
A sustained break below $4,960 would weaken the current bullish momentum and open the door for a broader corrective move.
Expectations
Bullish Scenario (Primary)
The dominant structure favors continued upside as long as price holds above $5,050.
A breakout above $5,120 would likely trigger bullish continuation toward:
• $5,150
• $5,200
Momentum remains constructive, with buyers defending pullbacks effectively.
Bearish Scenario (Alternative)
Failure to hold above $5,050 could trigger a deeper retracement toward $5,000 – $4,960.
Only a decisive break down below $4,960 would signal a shift into a broader corrective phase.
Outlook
Gold remains structurally bullish, with the recent pullback serving as a healthy consolidation within an ongoing uptrend. Buyers continue to control the market above key support levels, and a break above $5,120 would likely open the door for further upside expansion. Unless price loses $4,960, the broader bullish outlook remains firmly intact.
