XAUUSD Price Outlook – Trade SetupXAU/USD Spot - GoldFX:XAUUSDATFX_Global🌐Macro Background Gold advanced after pulling back from a two-month high. , as traders weighed prospects for a deal to reopen the Strait of Hormuz while awaiting US inflation data later today that could provide fresh clues on the Federal Reserve’s interest-rate path. On Tuesday, Pakistan’s defence minister said the US and Iran are “close to some sort of arrangement” to reopen Hormuz, even after both sides appeared to toughen their stances on the waterway that’s crucial to global energy flows. 📊Technical Structure From the 4H chart, gold has rebounded within an ascending channel pattern, currently testing the channel's dynamic median line. Support Zone: Positioned between 4,279 and 4,325, representing a crucial confluence of the rising channel's lower boundary and a short-term horizontal support area. Resistance Zone: Ranging from 4,429 to 4,477, marking the upper boundary of the current ascending channel and previous reaction highs. 🎯Trade Setup(Long / Buy-on-dip) Look for buying opportunities on a minor pullback toward the 4,300 – 4,325 Support Zone, or on a confirmed breakout above the immediate intraday. Take Profit Targets: Target 1: 4,429 & Target 2: 4,477 Stop Loss: $4,250 ❌Invalidation Closing below the 4,279 support level would invalidate the current ascending channel structure. 📝Trade Summary Look to buy gold on dips near the support zone, targeting $4,429 – $4,477 resistance while maintaining a stop loss below $4,250. ⚠️Disclaimer This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.