XAUUSD: Gold Loses Momentum Above 4,500, I’m Waiting for Deeper GoldOANDA:XAUUSDDomicChainaXAUUSD on H1 is moving weakly around 4,479, but what I’m watching is that price has slipped below both EMAs around 4,496–4,499. After the rebound toward 4,530–4,540, buyers failed to maintain momentum, showing that current demand is still not strong enough to push gold back into a clear bullish trend. Reuters noted that gold is under pressure as rising oil prices from Middle East tensions increase inflation concerns, which may keep the Fed more hawkish. This gives USD and yields room to stay supported, which is not favorable for gold in the short term. Forex Factory also shows markets are watching USD data such as Final Services PMI, ISM Services PMI, Fed speakers, and the Beige Book. These events could trigger strong gold volatility if they support the dollar. My preferred scenario: as long as gold stays below 4,500, price may continue falling toward 4,460–4,440. If this zone holds with clear rejection candles, I expect gold to recover toward 4,500, then 4,520–4,540. If H1 closes below 4,440, I would not rush to catch the bottom. In that case, 4,400–4,380 becomes the next liquidity zone.