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🌐Hello traders! My name is Jack Blackwell and I have 15 years of experience analyzing and trading the gold and foreign exchange markets. Below is my analysis view based on the current chart structure of the XAUUSD currency pair on the 4 hour and 1 hour timeframes.
✅ 4-hour frame trend analysis
Judging from the latest 4-hour K-line chart, gold prices formed a strong rebound after hitting bottom at 4453, and the bullish momentum has significantly increased. The current price has successfully recovered the main retracement level of 4538 and is currently approaching the resistance area near 4568.
The 4-hour structure has gradually changed from the previous “weak rebound” to a “short-term recovery reversal structure.” However, the 4580-4600 area still represents strong resistance above, so the market is currently closer to a “bullish callback phase” rather than a confirmed mid- to long-term upward trend.
✅ Hourly frame trend analysis
The hourly chart shows a very strong bullish structure in the short term. When price stabilizes above:
MA5 (4569)/MA10 (4568)/MA20 (4565) form an obvious ascending moving average.
The Bollinger Bands are also expanding upwards, with prices continuing to trade near the Bollinger Bands borders, indicating that short-term sentiment remains positive. The current hourly chart structure can be described as “a strong consolidation phase at a high level after a breakthrough.” If the price continues to hold above 4560, there may be an opportunity to continue rising to the 4580/4588 area.
🔴Resistance levels
● 4570–4582 (current major resistance area)
● 4590-4600 (strong short-term resistance)
● 4619 (50% Fibonacci retracement level)
🟢 Support level
● 4550–4538 (current main support area)
● 4510 (structural support)
● 4497–4483 (previous strong support area)
✅ Suggested trading strategies
🔰 Purchasing strategy (current key scenario)
👉 Admission area: 4550–4535
🎯Target: 4575 → 4588 → 4619
🔰 Selling strategy (short-term selling at high resistance levels)
👉Admission area: 4580–4600
🎯Target: 4560 → 4538
📍Reason:
● The 4582 area represents an important Fibonacci resistance level
● If price fails to break out effectively, a bearish technical correction may occur
⚠️Future trend view
👉 If the price successfully breaks through and holds above 4582: the market may open a channel for further gains, with the target at 4619/4656.
👉If the price falls back below 4538: This will indicate that the current rise is still just a technical rebound and the market may return to a weak volatility structure.
👉If the price remains in the 4538-4582 range: the market is likely to enter a high consolidation stage, and the overall momentum remains “sideways but relatively strong”.
🔔 If you find this analysis useful, don’t forget to like and comment to support me, it will encourage me to share more high-quality content. I’d also love to know your thoughts on where this chart will go in the future!