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Today Technical Analysis:  Gold falls to $4,550 as the US dollar remains strong

April 29, 2026, 07:06

Gold falls to $4,550 as the US dollar remains strong

Gold Technical Analysis

Gold is trading near $4,586 after a sharp selloff from $4,730 and only a weak rebound from $4,555. Price shows bearish pressure remains intact despite short-term stabilization.

The recent candles show sideways movement, but the inability to reclaim the MA cluster suggests sellers are still defending higher levels.

As long as gold remains below $4,595–$4,600, downside risk remains elevated. A break below $4,576 could expose $4,555 again. Selling volume has cooled after the sharp decline, indicating pause or consolidation. Bias is generally bearish below $4,600, with consolidation before the next move.

Gold 1H Chart

Resistance$4,642$4,694$4,730
Support$4,554$4,500$4,467

Brent Technical Analysis

Brent crude is trading near $109.71 after extending its rally and printing a recent high at $110.32. Price structure remains clearly bullish, with consistent higher highs and higher lows across the chart. The market is trading above all key moving averages MA5, MA10, and MA20, confirming strong upside momentum.

The moving averages are positively aligned, which is a classic trend continuation signal. Buyers continue to support dips, while sellers have struggled to create meaningful pullbacks.

If price holds above $108.70, the breakout remains valid. Losing that zone could trigger a pullback toward $108.10 before buyers re-enter. Momentum is strong but controlled. The latest push higher came after a period of consolidation, increasing the credibility of the breakout.

Brent 1H Chart

Brent 1H Chart 29-04-2026
Resistance$111.24$113.61$115.00
Support$107.20$106.00$103.50

EURUSD Technical Analysis

EURUSD is trading near 1.1697 after failing to sustain the earlier rebound from 1.1678. Price remains trapped in a short-term sideways range, but recent candles show sellers regaining slight control. The pair is now trading just below the short-term moving averages: MA5, MA10, and near MA20, signaling weak momentum and lack of trend conviction.

The broader structure is still range-bound, but the latest rejection from the 1.1716 area suggests upside momentum is fading. If price remains below 1.1710, downside pressure may continue toward 1.1685 and 1.1678. A breakout above 1.1721 would improve bullish sentiment.

Volume is moderate and declining, which supports the idea of consolidation without a clear directional move.

EURUSD 1H Chart

Resistance1.17201.17541.1800
Support1.16771.16001.1545

Risk Disclaimer: This material is provided for informational purposes only and does not constitute a recommendation or investment advice. Trading financial instruments on margin involves substantial risk and may not be appropriate for all investors.

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