Hello Traders,
The market will open soon, and I’d like to share my analysis on XAU/USD (Gold).
Analysis Overview:
Price Action: XAU/USD has rejected its recent higher high, signaling potential bearish momentum.
Fundamental Considerations: We are also seeing news related to risk-on sentiment, which could further pressure gold prices.
Sell Zone: Based on current price action, I’m eyeing a sell zone around 2689 for potential entry.
Technical Target: The technical target for this setup is 2665, where we might see a potential reversal or support.