Targeting SELL on XAUUSD: Downtrend Remains Strong, Potential for Further Decline! ~ 90% Rebate Exness Everyday

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Targeting SELL on XAUUSD: Downtrend Remains Strong, Potential for Further Decline!

XAUUSD Analysis

USD Weakness

The USD experienced some weakening after the producer price index (PPI) inflation data released last night aligned with market expectations. However, with overall inflation still rising, USD remains strong and may put downward pressure on GOLD in the short term.

Below the Trend Line

Gold prices continue to trade below the trend line on the H1 timeframe, indicating that the downtrend potential remains open. SELL opportunities exist as long as the downtrend line holds and prices do not break above it.

Prediction: WEAK XAUUSD

Trade Plan:

SELL Area: 2579.05 - 2591.75
Stop Loss (SL): 2614.13
Take Profit (TP):
- TP1: 2559.59
- TP2: 2534.67
- TP3: 2508.22