XAUUSD is trading around 4,129 after breaking above external buy-side liquidity and holding above the bullish MSS at 4,120.692. The H1 structure remains bullish, but price is approaching institutional supply at 4,142.701.

Gold is supported by a softer U.S. dollar and lower oil prices, which are easing inflation pressure and reducing expectations for aggressive Fed tightening. Attention now turns to upcoming U.S. labour data for the next policy signal.

Technical View

The bullish displacement above 4,110 confirms buyer control. However, price is extended from the rising channel base, so a controlled pullback would offer cleaner positioning.

The unmitigated H1 FVG around 4,084–4,098 is the main buy zone. A bullish rejection from this area, followed by a reclaim of 4,120.692, would support continuation toward institutional supply.

The 4,142.701 level may trigger profit-taking. Acceptance above this zone would open the path toward weekly buy-side liquidity around 4,195–4,205.

Key Zones

Current price: 4,128.605

Main buy zone: 4,084–4,098

Bullish MSS: 4,120.692

Institutional supply: 4,142.701

Weekly buy-side liquidity: 4,195–4,205

Bullish order block: 4,030.301

Bullish invalidation: below 4,075

Trading Plan

Buy Priority: 4,084–4,098

Condition: wait for an H1 pullback into the FVG, followed by bullish rejection, higher-low confirmation and a reclaim above 4,120.692.

SL: below 4,075

TP1: 4,120.692

TP2: 4,142.701

TP3: 4,195–4,205

Important Note

Avoid chasing if gold moves directly into 4,142.701. This supply level may produce a sharp reaction before continuation.

An H1 close below 4,075 would weaken the immediate setup and expose a deeper correction toward the 4,030.301 bullish order block.

Final View

Gold remains bullish above the latest MSS. The cleaner setup is a pullback into the H1 FVG before continuation toward institutional supply and weekly buy-side liquidity.

Will gold retest the unmitigated FVG before expanding toward 4,200?