Overview:
Gold
XAUUSD on the 4-hour chart is currently in a corrective phase after a recent bounce, but the overall structure remains bearish with clear downside risk.
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Key Observations:
Price Action:
Gold is trading around $3,319 after a recent rebound from the $3,272–$3,243 support zone. The price is now testing a resistance area highlighted by the previous consolidation zone, suggesting that upside momentum is facing challenges.
Supply and Demand Zones:
• There is a visible supply (resistance) zone around $3,320–$3,340, where sellers previously
stepped in.
• Multiple demand (support) zones are marked below, especially near the Fibonacci
retracement levels at $3,272 (38.2%), $3,243 (50.0%), and $3,214 (61.8%).
Fibonacci Levels:
The chart uses a Fibonacci retracement from the recent swing low to high:
• 38.2% at $3,272
• 50% at $3,243
• 61.8% at $3,214
These levels are aligning with key demand zones, increasing their significance for potential bounces or reversals.
Trend Structure:
Despite the recent recovery, lower highs and lower lows dominate the chart, indicating a bearish trend. The failure to break above the $3,340 resistance keeps the downside scenario in play.
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Fundamental Drivers
Safe-Haven Demand Weakening:
Easing tariff risks and improved global risk sentiment have reduced demand for gold as a safe-haven asset. The recent US court ruling against Trump-era tariffs and expectations of a Federal Reserve rate cut later in 2025 are shifting market dynamics.
Macro Themes:
• A hawkish Fed or further de-escalation of geopolitical tensions could pressure gold lower.
• Persistent inflation or renewed global risks could limit the downside and trigger rebounds
Gold
XAUUSD on the 4-hour chart is currently in a corrective phase after a recent bounce, but the overall structure remains bearish with clear downside risk.________________________________________
Key Observations:
Price Action:
Gold is trading around $3,319 after a recent rebound from the $3,272–$3,243 support zone. The price is now testing a resistance area highlighted by the previous consolidation zone, suggesting that upside momentum is facing challenges.
Supply and Demand Zones:
• There is a visible supply (resistance) zone around $3,320–$3,340, where sellers previously
stepped in.
• Multiple demand (support) zones are marked below, especially near the Fibonacci
retracement levels at $3,272 (38.2%), $3,243 (50.0%), and $3,214 (61.8%).
Fibonacci Levels:
The chart uses a Fibonacci retracement from the recent swing low to high:
• 38.2% at $3,272
• 50% at $3,243
• 61.8% at $3,214
These levels are aligning with key demand zones, increasing their significance for potential bounces or reversals.
Trend Structure:
Despite the recent recovery, lower highs and lower lows dominate the chart, indicating a bearish trend. The failure to break above the $3,340 resistance keeps the downside scenario in play.
________________________________________
Fundamental Drivers
Safe-Haven Demand Weakening:
Easing tariff risks and improved global risk sentiment have reduced demand for gold as a safe-haven asset. The recent US court ruling against Trump-era tariffs and expectations of a Federal Reserve rate cut later in 2025 are shifting market dynamics.
Macro Themes:
• A hawkish Fed or further de-escalation of geopolitical tensions could pressure gold lower.
• Persistent inflation or renewed global risks could limit the downside and trigger rebounds
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.