XAUUSD H4 Updat- Selling Pressure Sends Gold Tumbling Toward SupFOREXCOM:XAUUSD
After struggling to stay above the 3100 area, XAUUSD is currently consolidating, awaiting the next momentum shift. Selling pressure continues to dominate, and buyers seem unable to push gold higher in the short term.
From a technical perspective, the current lack of buying strength may be attributed to market uncertainty following comments from former U.S. President Donald Trump regarding potential tariff policies. These remarks have added a layer of risk-off sentiment, causing investors to step back from safe-haven assets like gold.
On the 4-hour chart (H4), there's a visible downside potential with key support levels seen in the 2955–2930 range. This zone previously acted as a strong demand area, making it an important level to watch in the coming sessions.
Key scenarios to consider:
A confirmed break below the 3100 zone could pave the way for a retest of the 2955–2930 support area.
However, if gold forms a higher low above 3100, a potential bullish reversal should not be ruled out.
At this stage, the best approach is to wait for clearer price action confirmation — whether gold will bounce from support or extend its correction deeper.
I'll continue to monitor the price development and update accordingly if the technical structure changes significantly.