FX.co ★ srikanya | XAU/USD, GOLD

Here is how I currently interpret the price action of gold based on multiple timeframes. The recent upward movement stalled around 4659.91, where the market faced resistance and began to decline after a rebound. Price then moved lower, breaking into a bearish structure on the H1 timeframe and falling to around 4500.22. This level sits within a key bullish breakout zone on the daily timeframe, between 4592.32 and 4437.10, which helped slow the decline and triggered another upward reaction. {"data-align":"none","data-size":"full","data-tempid":"temp_5192213_1777975988197_768","title":"fetch?id=38916679&d=1777974269.png"} From that support area, gold rebounded toward 4559.63, breaking into a bullish structure on the M15 timeframe. If this short-term strength holds, I expect price to continue rising toward 4570.30 and potentially test the H1 bearish breakout zone between 4589.50 and 4609.38. This area could act as resistance and lead to another downward reaction. However, if the market manages to break and sustain movement above the H1 bullish structure, the next upside target would be around 4657.23, followed by the H4 bearish breakout zone between 4735.50 and 4814.30, which is likely to provide strong resistance. On the downside, if the price breaks the M15 bullish structure and consolidates below 4531.25, it would signal renewed bearish momentum. In that case, I expect gold to decline further within the daily bullish breakout zone, potentially reaching its lower boundary at 4437.10, which may act as support. A deeper breakdown below the daily structure could push the price toward 4375.00 or even lower levels. Overall, the market remains highly reactive to key levels, and both bullish and bearish scenarios are still in play depending on how price behaves around these zones.