🔺Related Information: (XAU/USD)
Market participants increasingly believe that leading central banks will lean toward a more hawkish policy stance, as war-induced spikes in energy prices continue to intensify inflation concerns. These worries have been amplified by reports suggesting that the United States is weighing a potential ground operation in Iran, along with the growing involvement of Yemen’s Houthi forces. The Iran-backed group has carried out missile and drone strikes against Israel within a 24-hour period and signaled that additional attacks could follow in the days ahead. This development effectively opens another front in an already escalating conflict, unsettling the global economy and heightening the risk of further disruptions to trade routes through the Bab el-Mandeb Strait near the Red Sea. Combined with the effective shutdown of the Strait of Hormuz, these factors continue to support elevated oil prices and raise the likelihood of renewed inflationary pressure.
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📌 Chart analysis:
🔗 Short-term timeframes: M15, M45, H1
M15 recovers – faces selling pressure around 4550
Recovering and consolidating above 4520 during the European session.
H1 is moving along an uptrend line, with buying pressure moving away from the EMA moving averages.
🔗 Medium-term timeframes: H2, H4
H4 – Buying pressure and recovery above EMA, forming a bullish DOW above 4507
Key zones:
🔗 Supply zone (resistance): 4598
🔗 Demand zone (support): 4418
🔗 Three EMA moving averages; technical indicators: stochastic, volume
Setup signal: 🔗 SELL XAU 4598 – 4603 stop loss: 4608
Take profit: 4580 – 4550 – 4510
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✏️ Personal opinion:
Buying pressure and recovery are maintaining above 4500 during the Asian and European sessions. The recovery is mainly consolidating below 4600.