On the H4 chart, XAUUSD is maintaining a bullish stance after rebounding strongly from the support area around 3997, gradually approaching key resistance at 4150. Price trades around 4136, with consecutive higher lows signaling sustained buying interest. The Bollinger Bands are widening, and buyers appear increasingly active as price hovers near the upper band, indicating bullish pressure. This structure suggests a potential continuation move, although the proximity to resistance could prompt temporary consolidation or rejection.
Price action is currently navigating just below a significant horizontal resistance at 4150, where previous rejection occurred. The Bollinger Bands have begun expanding, indicating renewed volatility, while candles are consistently closing above the middle band, reflecting ongoing buyer dominance. Meanwhile, Parabolic SAR remains positioned below price action, further supporting the bullish outlook and showing strong directional bias.
The Stochastic Oscillator (5,3,3) is placed at 94.25/86.49, deeply in overbought territory, signaling a potential pullback or corrective pause. Bulls Power at 54.42 confirms strong buying interest, supporting broader bullish momentum, although the overextended oscillator suggests an impending short-term slowdown. With conflicting signals between momentum strength and overbought readings, the market is at a sensitive point where either a breakout or a correction may arise.
Market Observation & Strategy Advice
1. Current Position: XAUUSD trades around 4136, moving near the upper boundary of its short-term bullish structure, indicating strong buying pressure.
2. Resistance Zone: Immediate resistance stands at 4150, and if breached, may open the way toward 4210 and 4245.
3. Support Zone: Key support lies at 4071, with deeper protection at 3997, areas where price previously reacted with demand.
4. Indicators: Bollinger Bands are widening, and Parabolic SAR stays below price, signaling directional bullish momentum with increasing volatility. Overbought Stochastic suggests short-term exhaustion, but Bulls Power remains strong, indicating buyers are still in control of the broader trend.
5. Trading Strategy Suggestions:
- Breakout Continuation: Buy if price breaks and closes above 4150, targeting 4210 and 4245.
- Buy on Retracement: Consider long positions near 4071 or 3997 if corrective pullback occurs.
- Risk Management: Place stop-loss below 3997 to protect against deeper downside shifts.
Market Performance:
Precious Metals Last Price % Change
XPTUSD 1,542.91 −0.19%
XAGUSD 51.1433 −0.39%
Today’s Key Economic Calendar:
EU: New Car Registrations YoY
FR: Consumer Confidence
UK: CBI Distributive Trades
US: ADP Employment Change Weekly
US: PPI MoM
US: Retail Sales MoM
US: Business Inventories MoM
US: CB Consumer Confidence
US: Pending Home Sales MoM & YoY
Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. Investments involve risks, and past performance does not guarantee future results. Consult your financial advisor for personalized investment strategies.
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