XAUUSD | Technical Outlook
Market Structure
XAUUSD is currently trading around 4687, stabilizing after a bearish move that followed a prior bullish phase from higher levels. Price recently declined from the 4720 – 4750 region, finding temporary support near 4660 – 4680 as it attempts to consolidate.
The broader move from the 4300 – 4400 zone up toward 5000+ reflects strong bullish momentum on the H4 timeframe; however, recent price action shows a clear loss of momentum, with gold shifting into a corrective bearish phase.
Key Resistance Zone
Immediate resistance is located at 4700 – 4720, supported by:
- Recent lower highs on H1 and H4
- Short-term supply zone
- Confluence with moving averages
A breakout above this zone could lead to:
- 4750
- 4800 (key resistance area)
As long as price remains below 4720, upside attempts may face selling pressure.
Key Support Zone
Immediate support is seen at 4660 – 4640, which aligns with:
- Recent swing lows
- Intraday demand zone
- Short-term support structure
A breakdown below this level would expose:
- 4600
- 4550 (key H4 support)
A sustained move below 4550 would confirm a deeper corrective phase.
Expectations
Bearish Scenario (Primary)
As long as price remains below 4720, sellers may retain control.
A move below 4640 could trigger:
- A decline toward 4600
- Extension toward 4550
The short-term structure favors downside continuation within the correction.
Bullish Scenario (Alternative)
If price manages to hold above support, a recovery may develop.
A breakout above 4720 could lead to:
- A move toward 4750
- Further upside toward 4800
This would signal a potential resumption of the broader bullish trend.
Outlook
XAUUSD remains under short-term bearish pressure within a broader bullish structure, currently consolidating near the 4680 pivot zone. Momentum has weakened, suggesting a corrective phase before the next major move.
A confirmed break below 4640 would reinforce bearish continuation, while a breakout above 4720 could shift momentum back to the upside.
