XAUUSD – H4 Weekly Outlook: Demand Recovery After NFP SelloffGoldOANDA:XAUUSDMason_Drake XAUUSD closed the week around 4,430 after a volatile NFP session. Price sold off sharply from the 4,490 area, swept toward H4 demand, then recovered before the close. The broader structure is no longer cleanly bullish, but buyers are still defending the major demand cluster below current price. Friday’s U.S. jobs report was significantly stronger than expected. August Non-Farm Payrolls increased by 162,000 versus 56,000 expected, unemployment held at 4.1%, and average hourly earnings rose 0.3% MoM / 3.1% YoY. June and July payrolls were revised higher by a combined 55,000. The report pushed September Fed hike expectations toward roughly 62–65%, lifted the dollar and Treasury yields, and sent gold more than 2% lower intraday. Technical View The H4 chart shows price trading beneath the descending resistance trendline and directly below the 4,430–4,460 current resistance / reclaim zone. The main area for next week is 4,335–4,370 Major Demand + POI. This zone produced the latest recovery and remains the cleaner location for buyers to defend. If price retraces into demand and forms bullish rejection, liquidity reclaim or higher-low confirmation, I would look for a recovery back toward 4,430–4,460 first. Acceptance above that reclaim zone would strengthen the bullish recovery and open the path toward the descending trendline around 4,500–4,525, followed by the 4,600–4,635 Supply Zone / Bearish OB. A deeper loss of 4,335 would expose the 4,275–4,310 Major Demand / Bullish OB, weakening the immediate recovery thesis. Next week’s main macro risks are U.S. PPI on September 10 and CPI on September 11. After the strong jobs report, inflation data could be decisive for the September 15–16 Fed meeting. Key Zones Current price: 4,429.825 Current Resistance / Reclaim: 4,430–4,460 Buy Priority / Major Demand + POI: 4,335–4,370 Major Bullish OB: 4,275–4,310 Trendline Resistance: 4,500–4,525 Supply Zone / Bearish OB: 4,600–4,635 Major HTF Supply: 4,696.504 Trading Plan Buy Priority: 4,335–4,370 Condition: wait for an H4 pullback into Major Demand followed by bullish rejection, liquidity-sweep reclaim, higher-low formation or bullish MSS confirmation. TP1: 4,430–4,460 TP2: 4,500–4,525 TP3: 4,600–4,635 Immediate invalidation: sustained H4 acceptance below 4,335. Structural invalidation: below 4,275. Buy View The preferred setup is not to chase the current rebound while price remains under 4,460 and the descending resistance trendline. I would rather see gold revisit 4,335–4,370, absorb remaining sell-side liquidity and confirm buyers before looking for continuation higher. A clean H4 reclaim above 4,460 would improve the bullish structure considerably. Conversely, failure at demand would keep the NFP-driven bearish pressure active. Final View The strong NFP report strengthened the dollar, lifted yields and increased Fed hike expectations, so gold enters next week with a challenging macro backdrop. Inflation data will now become the next major driver. Technically, however, H4 demand is still holding. My main scenario is a controlled pullback into 4,335–4,370 followed by a confirmed bullish recovery, targeting 4,450, then 4,500–4,525, with 4,600–4,635 as the larger upside objective. Will H4 demand survive the post-NFP pressure before CPI decides the next major gold move?