Technical Analysis:
Price Action: XAU/USD has recently broken below the ascending channel, indicating a potential bearish reversal.
Fair Value Gap (FVG): An imbalance zone marked earlier has already been mitigated, suggesting that price may now be searching for new liquidity.
Bearish Setup: The price is currently trading below the mid-channel support (now resistance), aligning with a strong bearish momentum shown by the large blue arrow pointing toward the 3,360.052 level.
Fundamental Context:
Strengthening USD and potential hawkish Fed tone could pressure gold.
Market sentiment shows reduced demand for safe havens like XAU.
📉 Bias: Bearish
🎯 Target: 3,360.052
🛑 Stop Loss: 3,404.660
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Price Action: XAU/USD has recently broken below the ascending channel, indicating a potential bearish reversal.
Fair Value Gap (FVG): An imbalance zone marked earlier has already been mitigated, suggesting that price may now be searching for new liquidity.
Bearish Setup: The price is currently trading below the mid-channel support (now resistance), aligning with a strong bearish momentum shown by the large blue arrow pointing toward the 3,360.052 level.
Fundamental Context:
Strengthening USD and potential hawkish Fed tone could pressure gold.
Market sentiment shows reduced demand for safe havens like XAU.
📉 Bias: Bearish
🎯 Target: 3,360.052
🛑 Stop Loss: 3,404.660
✅ If you found this idea helpful, please support with a like and follow for more timely updates and trade setups!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.