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🥇Gold is around $4,179, holding above $4,178 after bouncing from $4,122. But the 4H chart is still making lower highs, so for now this looks like a range rather than a reversal.
💸DXY spiked to 102.13 and has eased to around 101.87. If it turns higher and reclaims 102, gold could come under pressure again.
Below $4,200, watch for a rejection at $4,197–$4,200 or a 4H close below $4,178. That would put $4,164 and $4,145 in focus, with $4,122 as the next support. A sustained 4H close above $4,200, while DXY stays below 101.85 and ideally slips toward 101.50, would open a move toward $4,234.
🗓️Friday’s London session may be choppy, so I’d avoid chasing the middle of the range. Wait for price and DXY to confirm.
TRADE $XAU HERE👇
🥇Gold is around $4,179, holding above $4,178 after bouncing from $4,122. But the 4H chart is still making lower highs, so for now this looks like a range rather than a reversal.
💸DXY spiked to 102.13 and has eased to around 101.87. If it turns higher and reclaims 102, gold could come under pressure again.
Below $4,200, watch for a rejection at $4,197–$4,200 or a 4H close below $4,178. That would put $4,164 and $4,145 in focus, with $4,122 as the next support. A sustained 4H close above $4,200, while DXY stays below 101.85 and ideally slips toward 101.50, would open a move toward $4,234.
🗓️Friday’s London session may be choppy, so I’d avoid chasing the middle of the range. Wait for price and DXY to confirm.
TRADE $XAU HERE👇