XAUUSD – Gold Corrects Into Fibonacci And Ichimoku Support

XAUUSD is trading around 4,129 after pulling back from the recent high area near 4,190–4,200. The short-term bullish structure is still valid, but price is now correcting into an important Fibonacci and Ichimoku support area.

The priority view remains buy on pullback, as long as gold holds above the key Fibonacci zones and does not break below the rising structure.

Technical View
Gold has created a strong recovery from the previous strong support zone around 3,960. The market moved higher and formed a clear bullish leg, showing that buyers were in control during the recent move.

However, price is now correcting after reaching the upper resistance and descending trendline area near 4,190–4,200. This pullback is normal after a strong bullish move, but the key question is whether buyers can defend the Fibonacci support zones.

The current area around 4,128–4,136 is acting as a short-term reaction zone. Price is testing this area after the pullback, but a clean bullish continuation still needs stronger confirmation.

The first important buy zone is 4,102–4,106. This zone aligns with the Fibonacci 0.618 area and also sits close to the Ichimoku support structure. If gold pulls back here and forms bullish rejection, it may confirm a higher low before the next upside move.

The deeper buy zone is 4,071–4,075, near the Fibonacci 0.5 area. If the first buy zone fails, this lower zone becomes the next area to watch for a stronger reaction.

Ichimoku still supports the recovery structure as long as price holds above the main cloud support and does not close deeply below the lower support zone. A clean break below 4,071 would weaken the bullish view and may open a deeper correction.

The upside target remains around 4,190–4,200, where the descending trendline and recent resistance are located. If gold breaks above this zone, the bullish structure may extend further.

Key Zones
Current price: 4,129
Short-term reaction zone: 4,128–4,136
Buy order zone 1: 4,102–4,106
Buy order zone 2: 4,071–4,075
Ichimoku support area: 4,115–4,166
Upper resistance: 4,190–4,200
Major trendline resistance: around 4,200
Invalidation: below 4,071

Trading Plan
Buy Priority: 4,102–4,106
Condition: wait for bullish rejection, higher low formation, or price holding above the Fibonacci 0.618 zone and Ichimoku support.

SL: below 4,071
TP1: 4,136
TP2: 4,166
TP3: 4,190–4,200

Alternative Scenario
If gold breaks below 4,102–4,106, wait for the deeper buy zone at 4,071–4,075. A bullish reaction from this area may still support continuation, but confirmation must be clearer.

Sell View
Sell is not the priority while price remains above the Fibonacci support zones and the rising structure. A sell setup only becomes safer if gold breaks below 4,071 and fails to recover back above the Ichimoku support area.

Final View
Overall, gold is correcting after a strong bullish move, but the main structure is not broken yet. The cleaner plan is to wait for price to test the Fibonacci and Ichimoku support zones around 4,102–4,106 or 4,071–4,075. If buyers defend these areas, gold may continue toward 4,166 and 4,190–4,200.

Will gold hold the Fibonacci support zone and continue higher, or break lower into a deeper correction first?