Gold (XAUUSD) is currently trading around 3644, showing strong volatility near a critical support and resistance zone. On the 4H chart, price is consolidating between the highlighted ranges, and a breakout in either direction could define the next big mov
If gold manages to break and sustain above this zone, we can expect bullish momentum to continue. Buyers may push the market higher towards the 3680 β 3690 levels in the short term.
On the flip side, if price breaks below this support area, selling pressure could drag the market down towards 3610 β 3590 levels.
Currently, gold is in a range-bound phase, waiting for a breakout. Traders should watch these key levels closely to catch the next directional move.
β Above 3658 β bullish momentum
β Below 3638 β bearish momentum
Upcoming US economic data releases
Dollar Index (DXY) movement
Geopolitical tensions that often boost safe-haven demand for gold
Always use stop-loss and manage position sizing carefully. Gold is highly volatile, and sharp moves can occur during major news events.
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