Hello traders, let's take a look at the chart!

XAUUSD has broken out of a long-standing bearish trendline and is currently holding above the Ichimoku Cloud. To me, this is a clear sign that the H8 market structure is shifting toward a more bullish outlook.

In my view, the 4,170–4,270 zone is the most critical area right now. If a pullback occurs early next week but buyers successfully defend this zone, I favor the scenario where the price extends its upward momentum.

Macroeconomic factors are also supporting this rally; weakening US employment data has cooled expectations of Fed rate hikes, putting pressure on the USD.

🎯 Target 1: 4,500
🎯 Target 2: 4,600

I wouldn't recommend chasing the price here. A clean retest of the support level would create a much more favorable setup, as shown on the chart.

The bullish scenario would weaken if the price loses the 4,270 level, and especially if the H8 candle closes back below 4,170.

AURICVERSE View: The breakout has occurred; now we just need to see if buyers can hold the breakout zone. If they do, the 4,500–4,600 range remains my preferred target.

How are you reading this structure? Share your view below. Good luck!