XAUUSD M45: Gold Recovers From Weekly Low, But 4,360 Remains KeyGoldOANDA:XAUUSDOwen_SteeleXAUUSD M45: Gold Recovers From Weekly Low, But 4,360 Remains Key Resistance Fundamental Analysis Gold is recovering after the sharp post-FOMC drop into the weekly low area. Optimism around the US-Iran peace agreement is supporting short-term demand as traders take profit on the US dollar. However, the Fed’s hawkish tone still limits the upside. As long as USD remains supported by rate expectations, gold needs stronger confirmation before the recovery can turn into a clean bullish continuation. Technical Analysis On the M45 timeframe, gold is trading around 4,314 after being rejected from the 4,360 - 4,380 resistance zone. This area is the main sell zone on the chart and also sits near the current strong high. From an SMC view, price has recovered from the weekly low and returned above the internal bullish OB. However, buying momentum is not strong enough yet while price remains below 4,330 - 4,340. The key buy reaction zone is 4,220 - 4,240. If price pulls back into this area and buyers defend it, gold may create another recovery move. If price loses 4,220, the next downside area is 4,180 - 4,200. Key Price Zones Current price: 4,314 Short-term resistance: 4,330 - 4,340 Main sell zone: 4,360 - 4,380 Buy reaction zone: 4,220 - 4,240 Lower support: 4,180 - 4,200 Deep demand zone: 4,055 - 4,080 Bullish confirmation: Above 4,340 Bearish risk: Below 4,220 Trading Plan Primary Scenario: Buy From Pullback Entry: 4,220 - 4,240 after bullish confirmation Stop Loss: Below 4,180 Take Profit 1: 4,330 - 4,340 Take Profit 2: 4,360 - 4,380 Take Profit 3: 4,400 Entry Conditions Price pulls back into the 4,220 - 4,240 buy zone. Buyers show clear rejection from this area. M45 or lower timeframe forms bullish CHOCH. Price reclaims 4,304 - 4,314 with strength. Avoid buying if price breaks and holds below 4,220. Alternative Scenario: Sell From Resistance Entry: 4,360 - 4,380 after bearish confirmation Stop Loss: Above 4,400 Take Profit 1: 4,330 Take Profit 2: 4,240 Take Profit 3: 4,200 Sell Conditions Price needs to retest the 4,360 - 4,380 sell zone and fail to break higher. If bearish rejection appears there, gold may correct back toward the lower support zones. Breakdown Scenario Entry: Below 4,220 after confirmed breakdown and retest Stop Loss: Above 4,250 Take Profit 1: 4,200 Take Profit 2: 4,180 Take Profit 3: 4,080 Overall View Gold has recovered from the weekly low, but the structure is not fully bullish yet. The first key level buyers need to reclaim is 4,330 - 4,340, while 4,360 - 4,380 remains the main resistance zone. The better plan is to avoid chasing price in the middle. Wait for either a clean pullback into 4,220 - 4,240 for buy confirmation, or a rejection from 4,360 - 4,380 for a short-term sell reaction. Do you think gold will defend 4,220 - 4,240 and recover again, or reject from 4,360 - 4,380 first?