XAUUSD: Looking for Another SELL Opportunity! Stalled at the Down Trendline Area ~ 90% Rebate Exness Everyday

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XAUUSD: Looking for Another SELL Opportunity! Stalled at the Down Trendline Area

XAUUSD Analysis

Fed Cuts Rates by 25 Bps

Gold prices rose by about 1% following the Federal Reserve’s decision to cut interest rates by 25 basis points. The dollar’s decline was limited, as the Fed's move aligned with market expectations set well in advance. The dollar index only corrected by around 0.6% after reaching a four-month high when Donald Trump won the U.S. presidential election again.

Pullback to Trendline Area

The price is pulling back to the down trendline area visible on the H1 timeframe. Sell opportunities can be considered in this trendline area.

Forecast: WEAK XAUUSD

Trading Plan:

Sell Area: 2706.49 - 2722.11
Stop Loss (SL): 2753.78
Take Profit 1 (TP1): 2677.14
Take Profit 2 (TP2): 2639.98
Take Profit 3 (TP3): 2600.23