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Piyasa

XAUUSD H1: When Will Buyers Finally Slow Down?

XAUUSD H1: When Will Buyers Finally Slow Down?

Gold OANDA:XAUUSD

After several sessions of consolidation within a sideways range, XAUUSD broke strongly above resistance and continued extending its bullish move. What stands out is that the pullbacks remain relatively shallow, while price continues to form higher highs and higher lows.

At the moment, buyers are still firmly in control and there is no clear reversal signal yet. The recent bearish candles mainly reflect short-term profit-taking and are not strong enough to change the current bullish trend.

If momentum remains intact, I expect XAUUSD to move toward the 4,330 resistance area. The bullish scenario will only begin to come into question if price fails to create a new high, forms a lower high, and then breaks below the most recent swing low.

This is only my personal view based on technical analysis. Wishing you successful trading!

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