Gold (XAUUSD) is showing signs of a potential bearish reversal on the 30-minute chart following a Rising Wedge breakdown and a Head and Shoulders pattern formation.
Technical Analysis:
Rising Wedge pattern suggests exhaustion in the uptrend.
Head and Shoulders structure signals a shift in momentum towards the downside.
Key Support Zone: $3,100 - $3,080 (Potential target).
If price breaks below the neckline, further downside pressure is expected.
Fundamental Outlook:
US Dollar strength and bond yields can pressure gold prices.
Geopolitical tensions and inflation fears may limit downside movement.
Market awaiting key macroeconomic data for further direction.
A break below $3,120 could trigger further selling, targeting $3,100 - $3,080 levels. However, a rebound above $3,140 could invalidate the bearish setup. Watch price action carefully
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Technical Analysis:
Rising Wedge pattern suggests exhaustion in the uptrend.
Head and Shoulders structure signals a shift in momentum towards the downside.
Key Support Zone: $3,100 - $3,080 (Potential target).
If price breaks below the neckline, further downside pressure is expected.
Fundamental Outlook:
US Dollar strength and bond yields can pressure gold prices.
Geopolitical tensions and inflation fears may limit downside movement.
Market awaiting key macroeconomic data for further direction.
A break below $3,120 could trigger further selling, targeting $3,100 - $3,080 levels. However, a rebound above $3,140 could invalidate the bearish setup. Watch price action carefully
Must Support Me Share My Idea With Your Firends Mention Your Feed back Comment Section
Trade closed: target reached
Trade Closed: +300 Pips Profit!Our short position on XAUUSD hit the target as the Rising Wedge and Head & Shoulders played out, confirming the bearish move. Locked in 300+ pips profit!
Next Steps:
Monitor for reversal or continuation.
Look for new setups at key levels.
Stay updated on fundamentals.
Great trade—on to the next!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For More Help
Telegram @Josh_trading
t.me/+rTQmlGBcbsk1YjI0
Our Channel
t.me/+sx2UuhofKsE4ODY0
Telegram @Josh_trading
t.me/+rTQmlGBcbsk1YjI0
Our Channel
t.me/+sx2UuhofKsE4ODY0
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.