Gold May See a Short-Term Pullback Before Continuing HigherGoldOANDA:XAUUSDMian-FXSignals📊 Market Overview: Global gold prices (XAU/USD) are currently fluctuating around the 4,700 USD/oz area after facing short-term profit-taking pressure. The main reason comes from the recovery of the US Dollar and rising US Treasury yields following higher-than-expected US inflation data. However, safe-haven demand remains strong as geopolitical tensions in the Middle East have not eased, helping gold stay above key support levels. 📉 Technical Analysis: • Key resistance levels: o 4,725 – 4,730 USD o 4,748 – 4,755 USD • Nearest support levels: o 4,685 – 4,680 USD o 4,655 – 4,650 USD • EMA: Price is still trading above the EMA 09 on the H1 timeframe, indicating that the short-term trend remains bullish. • Candlestick / volume / momentum patterns: o Small-bodied candles with long wicks are appearing around the 4,725 USD zone, showing selling pressure reacting at resistance. o Trading volume has declined slightly during the pullback, suggesting that selling pressure is not yet too strong. o H1 RSI has dropped from overbought territory to around 55–60, creating room for another upward move if support remains intact. 📌 Outlook: Gold may see a short-term pullback toward the 4,685 – 4,680 USD zone before continuing its upward trend if this support area holds. However, if the price breaks below 4,650 USD, bearish pressure could extend toward lower levels. 💡 Suggested Trading Strategy: 🔻 SELL XAU/USD: 4,725 – 4,730 🎯 TP: 40 / 80 / 200 pips 🛑 SL: 4,733 🔺 BUY XAU/USD: 4,685 – 4,680 🎯 TP: 40 / 80 / 200 pips 🛑 SL: 4,677