XAUUSD – Maintaining the Core Uptrend (BUY Bias)
Hello traders,
On the H4 timeframe, gold continues to show a steady upward trend. After testing the upper trendline, price bounced back and is now consolidating around the 386x region. This suggests the market may be in an accumulation phase, awaiting major news.
Fundamental Context
Tomorrow, the market will look towards the release of the Nonfarm Payrolls (NFP) data, an event that often brings strong volatility to gold prices.
In addition, concerns around the potential US Government shutdown are adding to the macro uncertainty, further supporting gold’s safe-haven appeal.
At present, there is little evidence to suggest gold will decline, particularly when other markets are also breaking higher.
Technical Analysis
Price continues to trade within the ascending channel on H4, with buyers holding the advantage.
MACD remains above the zero line, showing no clear signs of weakness.
Price is likely to consolidate further in the 3860 – 3870 range before a sharp move triggered by news.
Trading Plan
Buy Setup (preferred – trend following)
Entry: 3829 – 3832
SL: 3825
TP: 3845 – 3862 – 3877 – 3890
Sell Scalping (counter-trend, higher risk)
Entry: 3927 – 3930
SL: 3934
TP: 3915 – 3900 – 3882 – 3865
Note: Sell setups should be treated only as short-term scalps, as the primary bias remains on the buy side.
Conclusion
Gold is holding firmly within the uptrend structure, with no significant weakness yet. Given the backdrop of political uncertainty and the upcoming NFP release, the priority remains buying at suitable support zones. Any sell trades should be viewed as quick reactions rather than core positions.
👉 Follow me to get the latest updates as soon as price structure changes.
