📊 XAU/USD Technical Analysis (H1)
Gold is currently trading around $4,066, with price action showing a tug-of-war between buyers and sellers after a sharp bearish breakout. The market has entered a consolidation phase at lower levels.
🔹 Two consecutive small-bodied candles with long lower wicks have formed on the H1 chart, signaling buying interest near support and profit-taking from short sellers.
🔹 This price behavior suggests that dip buyers are accumulating below $4,050, slowing the bearish momentum in the short term.
🔹 During the European session, gold is expected to remain range-bound, but the broader trend remains bearish unless key resistance levels are broken.
🎯 Key Levels
Resistance: $4,080 – $4,093
Support: $4,055 – $4,050
📉 Trading Strategy
🔴 SELL: 4,078 – 4,080
🎯 TP: 4,055
🛑 SL: 4,095
📌 Bias remains bearish while price stays below the $4,093 resistance zone. Sellers may look for opportunities on rallies toward resistance.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.

