Technical Analysis for XAU/USD (Gold) — 4H Timeframe
Level Price
Support 3339.44 USD
Resistance 3397.34 USD
Current Price ~3355.22 USD
Market Outlook
Support at 3339.44 USD:
This area has acted as a strong demand zone in recent sessions.
Price bounced from this level recently, indicating short-term buyers defending the zone.
Resistance at 3397.34 USD:
Multiple rejections near this area highlight strong selling pressure.
A confirmed breakout above this resistance can shift the market to bullish in the short term.
Trade Signals
Bullish Setup:
Buy near Support (3339.44 USD) if price retests with bullish candles (hammer, bullish engulfing).
Targets:
TP1: 3370.00 USD
TP2: 3397.34 USD
Stop-Loss: Below 3330.00 USD
Breakout Trade:
Buy above 3397.34 USD with a confirmed close
Targets: 3425.00 → 3450.00 USD
Stop-Loss: Below 3385.00 USD
Bearish Setup:
Sell near Resistance (3397.34 USD) if price shows rejection patterns (shooting star, bearish engulfing).
Targets:
TP1: 3370.00 USD
TP2: 3339.44 USD
Stop-Loss: Above 3405.00 USD
Breakdown Trade:
Sell below 3339.44 USD
Targets: 3310.00 → 3280.00 USD
Stop-Loss: Above 3350.00 USD
Leave A Comment