XAUUSD Weekly Analysis
XAUUSD is consolidating inside a symmetrical triangle on the weekly chart after a strong bullish rally.
The 4400 level is acting as key support, while 4700 remains major resistance.
A breakout above 4700 could push gold toward new highs around 5400+, while a break below 4400 may trigger a deeper correction.
Overall trend remains bullish.
Fundamental: Gold recovered on renewed optimism over a possible U.S.-Iran ceasefire, helping support safe-haven demand.
However, bullion remains on track for a monthly decline due to persistent high interest rate expectations and cautious market sentiment.
XAU/USD TECHNICAL ANALYSIS
Gold Technical Structure: Doji on Weekly, Tweezer Bottom on Daily, Trading Above 20SMA on Daily, Bullish Flag on 4H, Consolidation on 1H
Weekly Trend: Bullish to Neutral
Intraday Trend/ Intraday Strategy: Bullish /Buy on Support, Buy on Breakout, Strong Above 4600
Major Support: 4520, 4480, 4420
Major Resistance: 4600, 4650, 4700
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farah khan