XAUUSD – Technical Overview
Price Action
Gold is currently trading around 4721, showing sideways consolidation after a recent pullback from highs near 4840. Price is holding above the rising trendline, indicating underlying strength.
Trend Analysis
The overall structure remains bullish, supported by a clear uptrend line. However, short-term momentum has slowed, forming a consolidation zone between key levels.
Key Levels
Resistance: 4730 – 4760, then 4800 – 4840
Support: 4695 – 4660 then 4600
Outlook
As long as price holds above 4680–4700 zone, bullish bias remains intact. A breakout above 4760 could resume the upward move, while a break below support may lead to deeper correction.
Strategy
Buy on dips near 4680–4700
Breakout buy above 4760
Maintain caution due to consolidation phase
#XAU/USD# #Fed# #Signal#
Alisha_Sheikh
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