XAU/USD & XAG/USD - Gold & Silver Traders Thread

Great analysis...

The XAUUSD price action on the H4 time frame is sideways below the 4547.07 horizontal support. Although we may still see further southward price engineering to retest an intra-day value area, a northward turnaround is imminent.

I may be wrong. Trade safe and prosper.

KP

The XAUUSD price on the daily time frame is sideways at the 4547.07 intra-day horizontal resistance, which aligns with the 38.2 fib retracement of the bearish swing traceable to March 2026. There was a feeble bullish attempt to break above the area on Friday. Recent technical prints favour further southward price engineering.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

The XAUUSD price action on the daily time frame went bearish last Friday after a bearish breakdown of the 4547.07 horizontal support earlier in the week. Presently, it is tackling the 4340.12 longer-term horizontal support area. Recent technical prints favour further southward price engineering.

I may be wrong. Trade safe and prosper.

KP

Good chart and clear reasoning.
I agree that the daily structure became weaker after the break below the 4547 area. For me, the important point now is how XAUUSD behaves around 4340.
I would not treat 4340 as only a support line, but more as a decision area.
If price accepts below 4340, then the bearish case becomes much stronger and the market may start searching for the next lower liquidity/support zone.
But if gold rejects 4340 strongly and starts reclaiming structure above it, then the breakdown may turn into a trap or at least a deeper correction inside the larger move.
So my view is:
1. 4547 breakdown changed the daily tone.
2. 4340 is the next important reaction area.
3. Acceptance below 4340 favors continuation lower.
4. Strong rejection from 4340 means caution for shorts.
Gold can move very fast around these long-term levels, so I prefer to wait for reaction and acceptance instead of predicting the level blindly.
Just my view. Trade safe.