XAUUSD Analysis
Gold Continues Decline as USD Strengthens
Gold prices remain weak as the USD strengthens and U.S. Treasury yields rise, following inflation data in line with market expectations. The U.S. Department of Labor reported that inflation hasn't significantly slowed, fueling expectations that the Fed may limit rate cuts next year.
Still Below the Down Trendline
Gold prices are still moving below the down trendline on the H1 time frame. Selling opportunities may arise if there’s a pullback toward this trendline area.
Prediction: WEAK XAUUSD
Trade Plan:
- SELL AREA: 2611.68 - 2633.15
- Stop Loss (SL): 2661.70
- Take Profit (TP1): 2581.18
- Take Profit (TP2): 2543.04
- Take Profit (TP3): 2507.78