XAUUSD Looking for SELL Opportunities: Support Break Signals Break of Structure ~ 90% Rebate Exness Everyday

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XAUUSD Looking for SELL Opportunities: Support Break Signals Break of Structure

XAUUSD Analysis

Fed Rate Expectations Pressure Gold

Gold prices have seen a significant correction due to the reduced expectations of a large Fed rate cut. According to the CME FedWatch Tool, currently, 88.8% of market participants believe the Fed will only cut rates by 25 basis points in November.

Support Break, Break of Structure

Support has been broken on the H1 time frame, indicating a potential break of structure (BoS). This former support level now acts as resistance and serves as a reference for finding sell opportunities.

Prediction: WEAK XAUUSD

Trade Plan:

SELL AREA: 2621.31 - 2627.73
SL: 2635.78
TP1: 2613.22
TP2: 2602.05
TP3: 2590.49