Middle East cools down - gold recovers above 4100 for OANDA:XAUUSD by Moon-ForexAcademy
1. Trend Overview Current Trend: Short-term Bullish Key Signals: Price has rebounded strongly from the 4,050–4,055 support zone, forming a short-term bottom. EMA 9 (4,087) remains above EMA 89 (4,070), confirming strong short-term bullish momentum. Following the recent pullback, price has moved back above both the EMA 9 and EMA 89. RSI (14) has recovered to around 65, indicating improving buying momentum while still remaining below the overbought zone. 👉 Conclusion: Buyers have regained …
1. Trend OverviewCurrent Trend: Short-term BullishKey Signals:Price has rebounded strongly from the 4,050–4,055 support zone, forming a short-term bottom. EMA 9 (4,087) remains above EMA 89 (4,070), confirming strong short-term bullish momentum. Following the recent pullback, price has moved back above both the EMA 9 and EMA 89. RSI (14) has recovered to around 65, indicating improving buying momentum while still remaining below the overbought zone. 👉 Conclusion: Buyers have regained short-term control of the market. As long as price holds above the 4,080 area, the probability of extending the rally toward the 4,140–4,150 zone remains high. 2. Current Price StructureH1 StructureHigher Low: around 4,052Current Price: around 4,103Immediate Resistance: 4,108–4,115After holding firmly above the 4,050 support zone, price has established a Higher Low and is now approaching the upper supply zone. This suggests the market is in a recovery phase following the recent pullback, but a decisive break above the nearby resistance is needed to confirm a bullish continuation. 3. EMA & RSI AnalysisEMAEMA 9 remains above EMA 89. Both moving averages have started to slope upward. → This indicates that the short-term bullish trend remains intact. RSI (14)RSI is around 65. Bullish momentum is improving, with room for further upside before reaching the overbought zone. This suggests that buyers remain in control, although short-term pullbacks may occur as price approaches key resistance levels. ----------------BUY GOLD zone : 4055 - 4052SL : 4047TP : 4070 - 4092 - 4115-----------------DisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use.