GOLD/USD – 1H Technical Outlook
1️⃣ Market Structure
Gold has been ranging for several sessions after a sharp drop.
This sideways price action is occurring exactly around a former support zone that was broken and then reclaimed, indicating a classic fake out.
That move allowed price to sweep liquidity and tap into the Bull OTE zone, which triggered a strong reaction.
2️⃣ Key Zone
Precise reaction off the Bull OTE (61.8–78.6% retracement area)
Multiple FVGs (1H & 4H) have been filled
Clean re-entry above the former supply zone now turned support
3️⃣ Behavioral Read
Price action is showing signs of a structured recovery, with higher lows building up.
This current compression phase likely means Gold is loading up for another leg up.
A potential macro catalyst could provide the ignition.
4️⃣ Short-Term Expectation
🔜 Potential breakout of the 3,240 $ supply zone
🎯 Next upside targets: 3,290 $ → 3,325 $
1️⃣ Market Structure
Gold has been ranging for several sessions after a sharp drop.
This sideways price action is occurring exactly around a former support zone that was broken and then reclaimed, indicating a classic fake out.
That move allowed price to sweep liquidity and tap into the Bull OTE zone, which triggered a strong reaction.
2️⃣ Key Zone
Precise reaction off the Bull OTE (61.8–78.6% retracement area)
Multiple FVGs (1H & 4H) have been filled
Clean re-entry above the former supply zone now turned support
3️⃣ Behavioral Read
Price action is showing signs of a structured recovery, with higher lows building up.
This current compression phase likely means Gold is loading up for another leg up.
A potential macro catalyst could provide the ignition.
4️⃣ Short-Term Expectation
🔜 Potential breakout of the 3,240 $ supply zone
🎯 Next upside targets: 3,290 $ → 3,325 $
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.