XAUUSD Potential SELL: TRENDLINE BREAK, Bearish Wedge in Play! ~ 90% Rebate Exness Everyday

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XAUUSD Potential SELL: TRENDLINE BREAK, Bearish Wedge in Play!

XAUUSD Analysis

Market Awaits US NFP Data

Gold prices experienced a significant correction following improved US ADP non-farm employment change data and declining jobless claims. There’s now anticipation that the upcoming US non-farm payrolls data may not be as weak as initially expected.

Potential Bearish Rising Wedge Pattern

Gold appears to be forming a bearish rising wedge pattern after breaking below the uptrend line on the H1 time frame. A Sell opportunity could arise if this pattern is confirmed.

Forecast: WEAK XAUUSD

Trade Plan:

Sell Zone: 2723.59 - 2736.42
Stop Loss (SL): 2756.84
Take Profit (TP) Levels:
- TP1: 2707.57
- TP2: 2680.99
- TP3: 2653.47