Gold Market Outlook (XAUUSD)
Gold is currently trading around the 4646 zone, and the short-term structure suggests a potential push higher before a deeper correction.
š Market Structure Insight (1H Chart):
Price action is forming a pattern of lower highs and lower lows, signaling sustained selling pressure despite temporary bullish moves. This indicates that any upside may be short-lived and driven by liquidity grabs rather than a true trend reversal.
š Bullish Scenario (Short-Term):
Iām expecting price to move toward the 4670 resistance level, where we could see a reaction. If momentum continues, the next key level to watch will be 4700.
š Bearish Scenario (Mid-Term):
Due to:
A strong USD environment due to liquidity crunch
immediate central bank buying stopped
selling Gold to cover up other assets loss
Gold may face rejection from resistance and initiate a sell-off toward the 4544 order block zone, which aligns with a higher timeframe demand area.
ā ļø Key Levels to Watch:
Resistance: 4690- 4706
Support: 4616- 4600
target 4543
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