On the M30 timeframe, XAUUSD (Gold) has once again shown strong bullish dominance by printing a fresh All-Time High, with the recent peak reaching 4963. Following the earlier corrective move that dragged price down toward 4756, Gold found renewed buying interest around the 4812 area, which acted as a strong demand zone. From this level, price surged aggressively higher, breaking multiple intraday resistances before reaching the new ATH. Currently, Gold is trading around 4953, maintaining elevated volatility. Given the strong upside momentum observed throughout the week, the probability of a psychological extension toward the 5000 level remains firmly on the table.
From a technical perspective, the short-term structure remains decisively bullish. Price is trading well above its rising trend channel and continues to respect the upper Bollinger Band, indicating sustained buying pressure rather than exhaustion. The Bulls Power (13) indicator has risen to around 29.13, reflecting a resurgence of bullish strength after the prior correction phase. Meanwhile, the Stochastic Oscillator (5,3,3) is positioned deep in overbought territory, with readings around 82.94, suggesting that while momentum remains strong, the market is vulnerable to short-term pullbacks or consolidation. Overall, the current setup reflects trend continuation conditions rather than a confirmed reversal signal.
Momentum remains firmly positive, supported by strong impulsive candles and shallow pullbacks, which are typical characteristics of a trending market. However, with Gold trading near record highs and momentum indicators stretched, price action is highly sensitive to incoming catalysts. There are several scheduled high-impact economic releases today, which are likely to amplify volatility and act as a trigger for either further breakout continuation or a sharper corrective move. As long as price holds above its key intraday support zones, the broader bullish outlook remains intact, keeping upside expansion scenarios dominant.
Market Observation & Strategy Advice
1. Current Position: XAUUSD is trading around 4953, hovering just below the newly formed ATH amid strong intraday volatility.
2. Resistance Zone: The immediate resistance is the 4963 ATH, followed by the psychological 5000 level.
3. Support Zone: Nearest support is located around 4888, with deeper demand seen near 4812–4756.
4. Indicator: Bulls Power (13) at 29.13 confirms bullish pressure, while Stochastic Oscillator (5,3,3) in overbought territory signals the need for cautious entry timing. Multiple high-impact economic releases today may trigger sharp moves, favoring reactive over predictive strategies.
5. Trading Strategy Suggestions:
- Trend Continuation: Look for buy-on-dips opportunities near 4888 or trendline support if bullish rejection signals appear.
- Breakout Scenario: A clean M30 close above 4963 opens room for acceleration toward the 5000 psychological target.
- Risk Management: Avoid chasing price at extremes; tighten stops or scale entries due to elevated volatility around ATH levels.
Market Performance:
Precious Metals Last Price % Change
XPTUSD 2,624.83 +1.50%
XAGUSD 96.7821 +0.62%
Today’s Key Economic Calendar:
AU: S&P Global Manufacturing & Services PMI Flash
JP: Core Inflation Rate YoY
JP: Inflation Rate YoY
UK: GfK Consumer Confidence
JP: S&P Global Manufacturing & Services PMI Flash
JP: BoJ Interest Rate Decision
JP: BoJ Quarterly Outlook Report
UK: Retail Sales MoM & YoY
DE: HCOB Composite, Manufacturing, & Services PMI Flash
CN: FDI (YTD) YoY
EU: HCOB Composite, Manufacturing, & Services PMI Flash
UK: S&P Global Manufacturing & Services PMI Flash
EU: ECB President Lagarde Speech
CA: Retail Sales Ex Autos MoM
CA: Retail Sales MoM Final & Prel
US: S&P Global Composite, Manufacturing, & Services PMI Flash
US: Michigan Consumer Sentiment Final
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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