Gold bears look to retain intraday control amid mixed technical setup
From a technical perspective, the XAU/USD pair maintains a modest bearish bias within a downward parallel channel and remains well under the upper boundary around $4,682.12. Meanwhile, the Relative Strength Index (14) at 46.60 has recovered from oversold territory, though it still points to only neutral-to-soft momentum. However, a mildly positive turn in the Moving Average Convergence Divergence (MACD) suggests corrective upside rather than a completed bearish phase.
On the topside, initial resistance emerges at the prior channel reference around $4,63
📊 CHF/JPY BUY SETUP
📈 Entry: 201.85
🎯 TP1: 201.55
🎯 TP2: 202.00
🎯 TP3: 202.00 (swing)
🛑 SL: 201.15
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XAU/USD SELL SETUP 🔴
Entry: 4522–4530 (sell on pullback)
SL: 4542
TP1: 4510
TP2: 4500
TP3: 4490
Short Technical Analysis (M15)
Sellers are still in control after rejection from the supply zone. Price failed to create a strong bullish breakout and continues to respect the bearish structure. As long as the price stays below 4542, sell setups remain valid.
If the price reaches the 4525–4530 area and shows rejection candles, that could provide a cleaner entry confirmation.
📊 XAU/USD TECHNICAL ANALYSIS
Gold maintains a modest bearish bias within a downward channel, trading below the upper boundary around $4,682.12.
📉 KEY LEVELS
Resistance: 4,632.58 | 4,682.12
Support: 4,500.00 | 4,380.81
⚠️ OUTLOOK
As long as price stays below 4,632, bears retain short-term control. A break below 4,500 opens further downside toward 4,380.
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Gold Price Recovers Part of Its Previous Losses
Gold price continued to rise during recent intraday trading, supported by the stability of the key $4,500 support level, which boosted positive momentum. Additional support came from positive signals by the relative strength indicators after forming a positive divergence. Read More Here https://web.telegram.org/k/#@gold_tradingrobots