FX.co ★ Konnect2fx | XAU/USD, GOLD

Gold (XAU/USD) 4-Hour Chart Analysis The Gold 4-hour chart is showing signs of recovery after a strong bearish move earlier in the month. Price recently bounced from the area near the PWL (Previous Week Low) around 4011 and created a sharp upward reaction, which suggests that buyers are defending this support zone. The chart also highlights an important Order Block (OB) between approximately 4040 and 4100, where demand appears to be building. I can see that after the strong rally from the lows, Gold filled the marked GAP and pushed toward the PWH (Previous Week High) area near 4367. However, the market failed to maintain strength above that level and experienced another wave of selling pressure. Despite this pullback, the current price action remains above the major support region, indicating that buyers have not completely lost control. The liquidity zones marked on the chart suggest that large market participants may still be targeting higher prices before any major bearish continuation develops. I believe the recent decline looks more like a correction within a broader recovery attempt rather than the beginning of a new strong downtrend. As long as the price remains above the highlighted order block, buyers may continue looking for opportunities to push the market higher.

Looking ahead, the key area to watch is the support zone around 4040–4117. If buyers continue defending this region, Gold could attempt another move toward 4300 and eventually retest the PWH resistance around 4367. I think a successful break above that resistance would expose the liquidity area near 4490, which is marked on the chart as a potential upside target. From a technical perspective, the recent rejection from higher levels has increased short-term volatility, but the overall structure still allows room for bullish continuation. I would pay close attention to candle behavior inside the order block because strong bullish candles from this area could confirm renewed buying interest. On the fundamental side, Gold remains sensitive to expectations surrounding U.S. interest rates, inflation data, and global economic uncertainty. When investors become concerned about economic growth or geopolitical tensions, Gold often benefits from safe-haven demand. At the same time, a stronger U.S. dollar or rising bond yields can create pressure on precious metals. Overall, the chart suggests that Gold is currently testing an important demand zone. If support continues to hold, I expect buyers to target higher liquidity levels, while a decisive break below the order block could shift momentum back in favor of sellers and open the door for a deeper decline toward the previous weekly low.