XAUUSD - Fundamental:
Gold recovered and trimmed most of its intraday losses after sellers failed to sustain a move below the $4,600 level. The rebound was supported by a weaker US Dollar and easing Treasury yields. Market sentiment was influenced by developments in the Strait of Hormuz, which increased uncertainty. Trump’s remarks also kept markets cautious, contributing to volatility in gold prices.
XAU/USD TECHNICAL ANALYSIS
Gold Technical Structure: Tweezer Top on Daily, Trading Below 20SMA on Daily, Rising Wedge on 4H, Rising Wedge on 1H
Weekly Trend: Bearish
Intraday Trend/ Intraday Strategy for Monday: Bearish/Sell on Resistance, Sell on Support Breakdown, Weak Below 4600
Major Support: 4600, 4490, 4370
Major Resistance: 4700, 4800, 4950
Sana Shaikh
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