Fundamental Analysis
Gold has extended its rally as a softer USD and lower Treasury yields increased demand for the metal. Optimism around U.S.–Iran negotiations has also reduced oil-driven inflation concerns, while upcoming U.S. employment data may create fresh volatility and reshape Fed expectations.

Technical Analysis
On the 2H chart, XAUUSD is trading near 4,171 after breaking above the dynamic supply trendline and reaching the upper Fibonacci range. Since price is already close to resistance around 4,175–4,180, the preferred plan is to wait for a retracement into the 4,100–4,120 OTE zone. If this area holds with bullish confirmation, gold may reclaim 4,180 before extending toward the external liquidity at 4,230–4,240.

Important Key Levels
Current price: 4,171.46
Main buy zone: 4,100–4,120
Short-term support: 4,100–4,120
Short-term resistance: 4,175–4,180
Liquidity area: 4,230–4,240
Main target: 4,230–4,240
Invalidation: below 4,075

Trading Scenario
Main Buy Setup
Entry: 4,100–4,120
Stop Loss: 4,075
Take Profit 1: 4,175–4,180
Take Profit 2: 4,200
Take Profit 3: 4,230–4,240

Buy Condition
Wait for a controlled pullback into the OTE zone and clear bullish confirmation. A long lower wick, bullish engulfing candle, failed breakdown, or 2H close back above 4,120 may confirm renewed buyer pressure. If price breaks and holds below 4,075, the buy setup is no longer valid.

Overall View
The short-term structure has turned bullish after the dynamic supply trendline breakout, but buying near current resistance may offer limited value. The preferred plan is to wait for confirmation from 4,100–4,120 before targeting the external liquidity around 4,230–4,240.

Do you expect gold to retest the OTE zone before reaching external liquidity?