XAUUSD London briefing — 2026-11-04

BIAS BEARISH. Daily structure, H4 EMA, and H1 EMA combined confirm downtrend despite bullish FVGs offering pullback resistance. KEY LEVELS R: 4050, 4100, 4217.47 | S: 4000, 3950, 3866.02 NEWS 🔴 ADP Employment Change (Wed 13:15 UTC) 🟡 MBA Mortgage Applications (Wed 12:00 UTC) 🟡 Goods/Services Trade Balance (Wed 13:30 UTC) SESSION OUTLOOK ADP volatility likely tests resistance zones. Watch 4050 rejection for short confirmation into support structure.

Key Levels

R: 4050.00 · 4100.00 · 4217.47

S: 4000.00 · 3950.00 · 3866.02