XAUUSD is currently in a clear bearish state due to mixed technical news. On the fundamentals, the Fed's continued hawkish stance, coupled with rising USD and bond yields, is putting direct pressure on gold. While geopolitical factors continue to support underlying demand, this force is not yet strong enough to reverse the main trend.
On the price chart, a distribution pattern is being found following the peak. The rejection at the supply zone around 4,880–4,900 signals that sellers have regained control. Subsequently, the price began forming lower highs and slipped below the equilibrium zone, being overridden by the descending trend line.
The rallies to the 4,720–4,750 range are merely pullbacks, not reversals. This is a typical pattern of "selling on a rally" – there's selling pressure waiting to break through.
The most plausible scenario is that the price continues to move sideways weakly before a breakdown, with the near target being the 4,660 region and a deeper target of 4,540 as shown on the chart. However, it should be noted that the market is currently noisy due to news, so there is a high possibility of a wipeout before further declines.
On the price chart, a distribution pattern is being found following the peak. The rejection at the supply zone around 4,880–4,900 signals that sellers have regained control. Subsequently, the price began forming lower highs and slipped below the equilibrium zone, being overridden by the descending trend line.
The rallies to the 4,720–4,750 range are merely pullbacks, not reversals. This is a typical pattern of "selling on a rally" – there's selling pressure waiting to break through.
The most plausible scenario is that the price continues to move sideways weakly before a breakdown, with the near target being the 4,660 region and a deeper target of 4,540 as shown on the chart. However, it should be noted that the market is currently noisy due to news, so there is a high possibility of a wipeout before further declines.
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Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.