FX.co ★ FX-Perfact | XAU/USD, GOLD

Gold H4: Potential Bounce From Key Support Gold is currently showing an interesting setup on the H4 timeframe after a strong bullish move earlier in the chart. Price climbed from the 4,000 area and eventually reached the 4,650–4,680 zone, where buyers started losing momentum. The recent sharp decline has now brought price back toward an important technical area around 4,450–4,480. What makes this zone interesting is the confluence of horizontal support and the rising blue moving average. Price is currently trading close to 4,454, meaning the market is testing an area where buyers may attempt to regain control. The moving average is still pointing upward, while the longer-term red moving average remains significantly lower. This suggests that the broader H4 structure is still bullish despite the current correction.

For me, the key factor is how price reacts around 4,450. If this level holds and H4 candles begin showing rejection from the downside, a relief bounce could develop. The first upside area to watch would be around 4,485–4,520, followed by the 4,565 region. A stronger recovery above these levels could open the way toward the previous high zone near 4,640–4,680. However, I would not consider the bounce confirmed yet. A clean H4 close below 4,450, followed by continued selling pressure, would weaken the setup and could expose lower support around 4,400 and then 4,325. The best approach here is to wait for confirmation rather than entering simply because price has reached support. A bullish rejection, followed by a higher low or a break above the nearest short-term resistance, would provide a much stronger signal. Overall, Gold remains technically constructive while the 4,450 area holds. This correction may become an opportunity for buyers if support produces a convincing reaction, but risk management remains essential because a decisive break below support could change the short-term structure.