Gold Pulls Back Slightly, May Rebound If Support at 4,680 HoldsGoldOANDA:XAUUSDMian-FXSignals📊 Market Overview: Gold (XAU/USD) is trading around $4,690/oz after retreating from the recent high near $4,760. Profit-taking has emerged as the U.S. dollar rebounds modestly and Treasury yields edge higher. However, safe-haven demand continues to support gold as investors await additional U.S. economic data and further signals from the Federal Reserve. 📉 Technical Analysis: - Key Resistance Levels: 4,720 – 4,725 4,748 – 4,755 - Nearest Support Levels: 4,680 – 4,685 4,650 – 4,655 - EMA: Price remains above the 9-period EMA on the H1 timeframe, indicating that the short-term trend remains bullish despite the current pullback. - Candlestick / Volume / Momentum: H1 candles show selling pressure weakening near the 4,680 support zone. Trading volume has declined during the pullback, suggesting limited bearish momentum. RSI has returned to neutral territory, leaving room for another upward move if support holds. 📌 Outlook: Gold may resume its upward movement in the short term if the 4,680 – 4,685 support zone holds. A break below this area could trigger a deeper correction toward 4,650. 💡 Suggested Trading Strategy: 🔻 SELL XAU/USD at: 4,752 – 4,755 🎯 TP: 40 / 80 / 200 pips ❌ SL: 4,758 🔺 BUY XAU/USD at: 4,680 – 4,683 🎯 TP: 40 / 80 / 200 pips ❌ SL: 4,677