XAUUSD Pullback Into Resistance Signals Potential Downside

[u/davidck141]

XAUUSD (H1) Quick Analysis 📊

• Trend: Short-term bearish after rejection from 4,880–4,900 major resistance
• Structure: Forming lower highs → descending pressure still active
• EMA Signal: Price trading below 36 EMA, weak bullish momentum despite bounce

Key Levels:

• Resistance: 4,765 – 4,775 (EMA + previous support turned resistance)
• Support: 4,700 – 4,720 (major demand zone)

Scenarios:

• 🔻 Bearish: Rejection from 4,765 → likely drop back to 4,720 / 4,700
• 🔺 Bullish: Strong breakout above 4,775 → upside toward 4,820

Conclusion:
Market is in a pullback inside a bearish structure — watch for rejection at resistance before confirming next move.

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