1.27 Tuesday Intraday XAUUSD Outlook

The four-hour chart shows the price operating at a high level around 5085, still in a clear bullish trend overall. The price continues to stay close to the upper Bollinger Band and remains firmly above the middle band at 4970, indicating that the market bullish sentiment still dominates. In the short term, it has entered a relatively strong "acceleration phase," with a technical pullback needed. Although the MACD indicator remains above the zero line, the histogram momentum is beginning to converge, showing that bullish momentum is slowing down. The probability of high-level oscillation is increasing.

From a fundamental perspective, recent international situations remain uncertain. Geopolitical conflicts, strategic competition among major economies, and instability in global trade and energy patterns keep risk aversion sentiment elevated. Meanwhile, the Federal Reserve's policy outlook remains uncertain, with diverging market expectations on the pace of rate cuts and inflation decline, further enhancing gold's appeal as a "hedging + anti-inflation" asset. Funds frequently switch between risk assets and safe-haven assets, supporting gold at high levels.

Combining technical and fundamental analysis, the medium-term structure of gold remains bullish, but the short-term is in a high-density zone. Caution is advised when chasing gains. The key support levels are around 5010-4970. If the pullback does not break below this zone, it can be seen as an opportunity for bulls to gather strength again. Short-term resistance is around 5110-5166. A volume breakout above this range could open the way for a new upward move.

Intraday, consider buying in batches around 5050-5060 with targets at 5100 and 5140.