XAUUSD Still Has SELL Potential: A SYMMETRICAL TRIANGLE! ~ 90% Rebate Exness Everyday

Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Aruba, Azerbaijan, Bahrain, Bangladesh, Belize, Benin, Bhutan, Bolivia, Botswana, Brazil, Brunei, Burkina Faso, Burundi, Cambodia, Cameroon, Cape Verde, Chad, Chile, China, Colombia, Comoros, Costa Rica, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Georgia, Ghana, Grenada, Guatemala, Guernsey, Guinea, GuineaBissau, Guyana, Honduras, Hong Kong, India, Indonesia, Isle of Man, Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Laos, Lebanon, Lesotho, Liberia, Libya, Macau, Madagascar, Malawi, Maldives, Mauritania, Mexico, Moldova, Mongolia, Montenegro, Montserrat, Morocco, Mozambique, Namibia, Nauru, Nepal, Niger, Nigeria, Oman, Pakistan, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Qatar, Republic of the Congo, Rwanda, Saint Kitts and Nevis, Saint Lucia, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Sierra Leone, Solomon Islands, South Africa, Sri Lanka, Suriname, Swaziland, Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Uganda, United Arab Emirates, Uzbekistan, Venezuela, Vietnam, Zambia, Zimbabwe

XAUUSD Still Has SELL Potential: A SYMMETRICAL TRIANGLE!

XAUUSD Analysis

Ongoing USD Strength

Gold prices remain under pressure as the USD continues to strengthen, coupled with reduced expectations for a 50-basis-point rate cut by the Fed. Currently, 81% of market participants predict that the Fed will only cut rates by 25 basis points next month.

Symmetrical Triangle on H1

A symmetrical triangle pattern has formed on the H1 time frame, with a pullback occurring towards the lower line of the pattern.

Prediction: WEAK XAUUSD

Trade Plan:

SELL AREA: 2610.22 - 2615.95
SL: 2625.21
TP1: 2601.65
TP2: 2590.49
TP3: 2579.29