1. Current Market Structure
During the Asian session open, gold showed a strong bullish reaction, confirming a resumption of upward momentum.
The breakout of the trendline and reclaim of prior levels indicate a clear exit from consolidation.
2. Bigger Picture Outlook
This bullish impulse could now push gold towards new all-time highs, with targets above $3,500.
On Wednesday, Jerome Powell will speak – a potential rate cut is on the table, which could weaken the dollar, but might also hurt gold short-term if markets anticipate a rebound in growth.
3. Key Technical Observations
🟩 FVG 1H & OTE: Recently tapped, offering short-term support.
🟦 FVG 4H: A broader liquidity zone that has now been broken through.
4. Short-Term Expectations
A pullback to the 1H OTE may occur to grab liquidity before continuation.
If Asian market flows remain strong, gold could continue its momentum towards $3,500 and beyond ahead of the FED speech.
5. Upcoming Catalysts
Powell’s speech on Wednesday: High-impact event.
Interest rate decision: If a cut is confirmed, gold may temporarily retrace despite a bullish longer-term outlook.
Asian session flows: Still favorable to gold, with visible liquidity spikes at session open.
Conclusion
The bullish recovery is now technically confirmed, with a clean structure and strong reactions at key zones.
Levels to watch:
OTE + FVG 1H
The $3,500 mark
Powell’s speech as a primary macro catalyst
For now, gold remains well-supported during Asian hours, reflecting continued investor interest in uncertain times.