XAUUSD: H1 Analysis | October 23GoldOANDA:XAUUSDStone_Haven📰 News and Developments On October 23, XAUUSD is trading around 4,010. The price has fallen sharply after breaking below the 4,075–4,085 support zone, indicating that selling pressure remains dominant. From a technical perspective, the price is trading below the 20, 50, 100, and 200 EMAs. To better assess the underlying momentum, one should examine the movements of the USD, U.S. Treasury yields, and Federal Reserve interest rate expectations for the day; the chart alone is insufficient to pinpoint exactly which news event triggered this decline. => Short-term fundamental outlook: Not yet confirmed by news data; Short-term technical outlook: Strongly bearish for Gold. 📊 Technical Analysis On the H1 timeframe, the price structure is forming a series of lower highs and lower lows. Following a rejection at the 4,140–4,150 zone, the price weakened consistently, breaking through the 4,075–4,085 support area with strong bearish candles. Notably, the price is currently below all four EMAs, which are all sloping downward—a signal that the downtrend is strengthening. However, as the price has extended significantly away from the 20 EMA and a long wick has appeared near the 3,985–4,000 zone, one should remain cautious of a potential technical rebound before any further decline. 🎯 Trading Strategy 🔴 SELL zone 4,037-4043 This is the area where the price broke down sharply earlier this morning. Prioritize selling if bearish signals emerge upon reaching this zone. 🔴 SELL zone 4,073–4,085 This former support zone, having been decisively broken, is now likely to act as resistance. This area is also near the 50-period EMA. If the price retraces to test this zone and faces rejection, it could present a selling opportunity. 🔴 SELL zone 4,136–4,148 This is a previous supply zone—an area where the price once consolidated and reacted multiple times before breaking downward. This zone also aligns with a former resistance structure and long-term EMAs. ⚠️ Disclaimer: This is my personal analysis and market view, based on the chart and market information available at the time of analysis. It does not guarantee a 100% successful outcome.