XAUUSD H1: The Price Action Forecast for the American Session on 20.2.2026

During the previous trading session, XAUUSD demonstrated downward dynamics. On a longer time-frame, the upward trend still prevails.
The support and resistance levels:
The nearest support level is at the price level of the 4841.69.
This level was formed by the Bullish Engulfing pattern. The pattern consists of two candles: the first one is inside the body of the second one, which is much larger. The second candle completely engulfs the first one.
The nearest significant resistance level is at the 5042.56 mark.
The level was formed by the Shooting Star pattern. This pattern is a single candlestick which is composed of a small real body and a long upper shadow. This pattern is usually called “Pin Bar” by traders.
Trading recommendations:
The upward dynamics prevail on a longer time period, but the short positions should be prioritized during the day because the latest signal suggests a dominant downward movement.