💎 XAUUSD Market Analysis (D1)
✔️ Market Context
On the D1 timeframe, gold is clearly transitioning from a strong bullish expansion into a bearish corrective phase after rejecting a major supply zone.
🟠 Price has formed a strong rejection from Key Level 3 (5,592 – 5,619)
🟠 Market structure has shifted bearish with lower high formation and increasing selling pressure
🟠 The current movement is a corrective pullback within a descending trendline/channel
🟠 Price is currently reacting around 4,673 (Fibonacci 0.382) - a key decision level
🟠 The zones 4,849 (Fib 0.5) and 5,024 (Fib 0.618) act as major resistance above
🟠 On the downside, 4,348 (Key Level 2) and 4,009 (Key Level 1) serve as strong support zones
➡️ Overall: The market is in a bearish correction phase within a developing downtrend, with price retracing before a potential continuation lower
🔴 Primary View: Bearish Continuation (Sell the Rally)
⚫️ The daily structure has shifted bearish after rejection from the 5,600 supply zone
⚫️ Current price action represents a pullback into Fibonacci resistance levels
⚫️The descending structure continues to confirm sustained selling pressure
➡️ Main scenario:
⚫️ If the price continues to reject below 4,849 – 5,024→ downside, continuation toward:
⚫️ 4,673 (current pivot – Fib 0.382)
⚫️ 4,348 (Key Level 2 – demand zone)
⚫️ 4,009 (Key Level 1 – major support)
💎 Key Insights & Trading Notes
⚫️ Priority remains selling at premium zones within the descending structure
⚫️ The 4,849 - 5,024 zone is the key decision area for trend continuation
⚫️ 4,673 (Fib 0.382) is the immediate level to watch for breakdown or short-term reaction
⚫️Avoid trading in the mid-range (4,673 - 4,849) due to weak risk-reward
⚫️ Market is currently in a distribution and rebalancing phase after the previous uptrend
✔️ Conclusion
Gold on the D1 timeframe is trading within a descending structure after rejecting the 5,600 supply zone. The key Fibonacci levels at 4,849 and 5,024 will determine whether the market continues lower or attempts a deeper recovery.
The preferred strategy is to sell at resistance and follow the bearish trend unless a confirmed breakout above 5,024 occurs.
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