Gold remains sensitive to the US dollar, Treasury yields and interest-rate expectations. Softer yields or renewed USD weakness could support the bullish structure, while stronger US data may trigger a temporary correction.
Technical View
On the H2 chart, XAUUSD has broken above the descending trendline and confirmed a bullish CHOCH around 4,080. The strong displacement toward 4,130–4,140 shows that buyers currently control the short-term structure.
However, RSI is trading near 70, suggesting that price may be temporarily extended. I would prefer to see a controlled retracement before considering further bullish continuation.
Key Levels
Immediate resistance: 4,135–4,145
Primary demand: 4,040–4,055
Deeper support: 4,018–4,030
Higher liquidity: 4,190–4,200
Trading Scenario
My bias remains bullish while price holds above the broken trendline and the 4,018–4,055 demand area.
A pullback into 4,040–4,055, followed by bullish confirmation, could support another expansion toward 4,190–4,200. A deeper retracement into 4,018–4,030 may still preserve the bullish structure, but a decisive break below this region would weaken the scenario.
Overall View
The trendline breakout and bullish CHOCH support further upside, but the overbought RSI suggests patience may be needed before the next expansion.
Do you expect XAUUSD to retest demand first or continue directly toward 4,200?