USD Weakens, Gold Holds Firm — Is a Breakout Imminent?GoldOANDA:XAUUSDAyabellTaking into account both the latest news backdrop and the current price structure, I maintain a very clear view: XAUUSD remains in an uptrend, and any pullbacks at this stage are merely technical — not a reversal. From a fundamental perspective, the market has just absorbed news of a U.S.–Iran ceasefire, which has led to a weaker USD and lower yields — two key factors that directly support gold. More importantly, geopolitical risks have not fully disappeared, keeping safe-haven demand elevated. At the same time, expectations that the Fed may adopt a less aggressive stance on interest rates are continuing to drive capital into gold. This is not just a short-term spike driven by headlines, but rather a reflection of defensive capital flowing back into the market. On the chart, the bullish structure remains exceptionally clean. Price continues to hold above the ascending trendline, consistently forming higher lows, and most notably defending the demand zone around 4,720–4,750 after a liquidity sweep. The rebound from this area is not just a technical reaction — it clearly shows that buyers are still in full control. At the moment, price is consolidating just below the 4,780–4,800 zone, forming a familiar compression pattern that often precedes trend continuation. As long as the structure remains intact, such consolidations typically act as a springboard for the next expansion move. As long as price holds the support below and does not break the trendline, the scenario of moving toward the 4,880–4,900 zone remains highly valid. This is not only a technical target, but also a liquidity zone that the market naturally tends to seek. In summary, the strategy right now is not about looking for shorts, but about patiently waiting for pullbacks to align with the trend. With both fundamentals and technicals pointing in the same direction, gold remains a preferred asset — and in the short term, the advantage clearly belongs to the buyers.