Welcome, dear traders. Today, we present a technical analysis and trading signal for Gold (XAUUSD). Let’s delve into the analysis.

Today’s Gold (XAUUSD) Technical Analysis & Trading Signal by Guriforex

🥇 Gold (XAUUSD) has been consolidating within a rising wedge, a pattern that often precedes a bearish move. The price has now reached the lower trendline, and traders are watching closely for a potential breakout below $2927. If this key level breaks, gold could gather liquidity near the $2880 demand zone, where an order block (OB) is located.

📊 GOLD Trade Setup & Market Outlook

🔽 Sell XAUUSD IF it breaks below $2927
🎯 Target Profit (TP): $2880
🛑 Stop Loss (SL): $2948.50

🔍 Gold Technical Overview

Rising Wedge Pattern – Typically a bearish signal when support breaks.
Major Support at $2927 – A decisive breakdown confirms bearish momentum.
Liquidity Zone at $2880 – Potential price magnet for sellers.
Stop Loss at $2948.50 – Protecting against invalidation of the setup.

🌍 Global Market Sentiment & Gold’s Outlook

💰 US Dollar Strength & Fed Policy:

• The US Dollar (DXY) remains strong, adding downside pressure to gold.
• The Federal Reserve’s stance on interest rates will be crucial in shaping gold’s direction.

📉 Stock Market & Risk Sentiment:

• Any risk-on sentiment could push investors away from gold.
• A break below key support levels could trigger further sell-offs.

⚠️ Upcoming Economic Data:

• US GDP & Inflation reports could bring volatility.
• Bond yields & Fed commentary remain key drivers.

📉 Bearish Scenario – Key Levels to Watch

Break below $2927 = SELL setup confirmation
Targeting liquidity zone near $2880
A close above $2948.50 invalidates the setup

🔥 Do you agree with this setup?
Click ❤️ if you’re waiting for a drop in XAUUSD! 🚀