Gold Daily Levels, Oct 7, 2026

XAUUSD H1 – Liquidity sweep below 4104, eyeing a Fibonacci bounce

Gold dropped sharply from 4225 to the 4104 area and briefly broke below it, leaving a long wick down to around 4070. Buyers stepped in fast, which looks like a liquidity sweep under the previous lows. If price reclaims 4104, a corrective move higher is on the table.

Fibonacci of the last bearish leg (4225.33 → 4104.57):

- 0.236 → 4133

- 0.382 → 4150

- 0.500 → 4165

- 0.618 → 4179

Key events today (GMT):

- 17:00 – Trump speech + US 10-year note auction

- 18:00 – FOMC Minutes

Any comments from Trump on the Fed, rates or tariffs can move the dollar fast, and the FOMC minutes come right after. A dovish tone or a weaker dollar would support gold.

Plan (bullish bias, wait for the news):

- No entries before the speech. Let the first spike settle.

- Entry: H1 close back above 4105

- TP1: 4133 (0.236)

- TP2: 4150 (0.382)

- TP3: 4165 (0.500)

- SL: below the wick, around 4065

Invalidation: if price stays below 4104 after the news and breaks the 4070 low, the bearish trend continues and this idea is off.

Expect wider spreads and sharp moves in both directions during the events. Not financial advice – manage your risk.