On the H1 timeframe, gold (XAUUSD) is showing signs of recovery after the recent sharp decline. Let’s break down the key technical factors:
1. Price Action & Trend
After a strong selloff and gap fill, price bounced from the 3311 support area.
Currently, XAUUSD is testing the confluence zone of short-term EMAs (20-50-100), which will determine whether the bullish momentum can extend.
Market structure suggests a potential corrective rally toward resistance.
2. Key Technical Levels
Immediate Support: 3330 – 3335 (EMA20 + local consolidation).
Major Support: 3311 (recent swing low + Fibonacci extension).
Near-term Resistance: 3349 – 3350 (EMA100 + recent rebound high).
Strong Resistance: 3375 – 3380 (supply zone + structural resistance).
3. Indicators
EMA: Price is attempting to reclaim EMA20/50; holding above 3340 could trigger further upside.
RSI (H1): Recovering from oversold territory, signaling bullish momentum.
Volume: Strong buying volume appeared at the recent low – an early sign of buyers stepping back in.
4. Trading Strategies
Scenario 1 (Short-term Long Setup):
Entry: 3335 – 3340 (if price sustains above EMA20).
TP1: 3350
TP2: 3375 – 3380
SL: below 3325
Scenario 2 (Sell from Resistance):
If price reaches 3375 – 3380 and forms bearish rejection signals, consider short entries.
TP: 3340 – 3330
SL: above 3385
5. Conclusion
Gold is currently in a corrective recovery phase. While the broader trend remains bearish, a rebound toward 3350 – 3380 is highly possible before the next directional move. This resistance zone will be critical for the next trading decisions.
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