XAUUSD/GOLD 4H BUY PROJECTION 23.04.26Gold / U.S. DollarFOREXCOM:XAUUSDkripsonfx97Gold is currently showing signs of a possible bullish recovery on the 4-hour timeframe. After trading inside a parallel downtrend channel, price has reached a strong demand zone near the 4700 level, where buyers have started to step in aggressively. We can clearly see a bullish engulfing candle formed from this support area, which is an early sign that bullish momentum may be building. At the same time, price is now attempting to break the downtrend line, and this breakout area becomes the key confirmation zone for further upside movement. As long as price holds above the breakout region, gold may continue moving higher toward the next target zone around 4780. However, traders should also stay cautious near the 4755–4760 area, as this looks like a possible reversal or reaction zone before price continues higher. The demand zone remains the main support area, and if price drops back below it, then the bullish setup may weaken. For now, the market structure suggests that buyers are trying to regain control, and this could lead to a short-term upward move if momentum continues.