XAU/USD Intraday Trading Strategy | Weekly
Gold XAU/USD remains in robust bullish mode, trading around the $4,240 region after a steady uptrend over the course of last week. With the assistance of lower U.S. Treasury yields and elevated geopolitical risks, gold is still in an attractive place for short-term traders looking to exploit intraday fluctuations. This week’s move indicates that the bulls remain in the driver’s seat; however, a pullback could result in an attractive entry.
Current Market Overview XAU/USD
Currently, Gold Spot XAU/USD is hovering between $4,197 support level and $4,245 resistance level on the 1-hour timeframe.
The buy and sell signals from the Supertrend indicator clearly indicate a buy signal as the indicator has been maintaining bullish momentum since it broke out above the $4,060 level last week.
Here is an overview of the support and resistance levels set by the LuxAlgo that identify critical zones:
Immediate Support: $4,182 – $4,197
Secondary Support: $4,060
Major Resistance: $4,245 – $4,280
The bullish structure remains intact while price remains above the $4,180 level, as we may have upside targets toward the $4,300 level if the price breaks out and remains above that key resistance level..
XAU/USD Technical Analysis
Trend: Strong Bullish
Supertrend Support: $4,197 (Buy Zone)
Short -Term Resistance: $4,245 (Breakout Level)
Next Target Zones: $4,260 – $4,300 – $4,340
Possible Retracement Area: $4,180 – $4,160 (Buy on Dip Zone)
Current RSI is still slightly overbought, signaling a minor correction may happen before the next leg up. Traders should look for a retest of the $4,200 – $4,180 area for possible intraday long entries.
XAU/USD Trading Plan Intraday Setup
Buy Zone: $4,190 – $4,210
Profit Targets:
TP1: $4,245
TP2: $4,270
TP3: $4,300
Stop Loss: Below $4,175
Alternative sell setup:
If gold does not hold above $4,180, short-term sellers may investigate quick moves towards $4,140 – $4,100. However, the overall trend is still bullish until $4,060 is broken.
Fundamental Outlook
This week, we will monitor:
U.S. CPI and retail sales data, which may affect the Fed’s rate outlook;
Middle East and geopolitical tension, temporarily increasing havens.
Dollar index (DXY) – any fall in the dollar index continues to bolster the rally in gold.
If the inflation data comes in soft, gold may attempt to push further toward new highs above $4,300 going into the end of the week.
Final Thoughts
Gold XAU/USD still shows great strength, with buyers holding above the $4,180 pivot zone. Day traders should be looking to long on a dip and ride until significant resistance in the $4,300 area of interest.
As long as the structure stays intact, “buy on dips” will be the primary suggestion for this week.
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Disclaimer:
All brokers and Forex and Commodities Weekly Analysis are on my personal search for any changes and work on the market at any time. Please research the market news and others on Google search, and your company’s analysis of the market. I cannot guarantee this is just an analysis for my opinion, not for 100% sure to work in the real market.