XAUUSD is trading within a well-defined descending channel, reflecting sustained bearish pressure. The price continues to respect the channel structure, consistently forming lower highs and lower lows — a clear indication that the downtrend remains intact. The recent bounce appears to be a technical retracement rather than a true reversal, suggesting the market is simply rebalancing before the next move lower.Price is now approaching a key resistance zone, defined by the upper boundary of the channel and a prior supply area. If this zone holds, it could provide a high-probability re-entry opportunity for sellers. The projected downside target sits around the 4,550 region, aligning with the lower boundary of the channel and the next liquidity zone.
As long as price remains below the resistance zone and the descending trendline, the bearish outlook remains valid. A breakout above this structure, however, may weaken the setup and open the door for a deeper corrective move.
Always confirm your setups and trade with proper risk management.
Best of luck!
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.