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Gold and U.S. stocks bounce sharply as Trump says heโs canceling planned strikes on Iran
๐ XAU/USD Market Analysis โ Today PipsView Trading
Gold remains under bearish pressure, with sellers continuing to dominate below key resistance levels.
๐น Bearish Scenario
As long as XAU/USD remains below the 4200โ4210 resistance zone, the downside move is likely to continue. A sustained break below intraday support could open the door for a move toward:
๐ฏ Target 1: 4175
๐ฏ Target 2: 4152
๐ฏ Target 3: 4135
๐ฏ Target 4: 4115
The 4120โ4115 area is a significant demand zone where buyers may attempt to re-enter the market.
๐น Bullish Invalidation
A strong recovery and close above 4220 could weaken the bearish outlook and trigger a corrective move toward higher resistance levels.
โ ๏ธ Trade with proper risk management and avoid overleveraging during high-impact news events.
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