XAUUSD (Gold) Intraday Outlook – Sideways to Bearish Bias
🔻 Bearish Scenario: Gold is exhibiting a sideways-to-bearish structure today. A potential downside move is expected from the $2,899 - $2,904 resistance zone, with targets at $2,878.
📈 Retracement & Bullish Pullback: If price stabilizes near $2,899, we may see a temporary bullish move toward $2,910 before another bearish leg resumes.
🔍 Technical Analysis:
📉 Bearish Bias
🔸 Resistance Levels: $2,899 - $2,904
🔸 Support Levels: $2,878, $2,870
🔸 Indicators:
EMA: Price remains below key moving averages, favoring sellers.
RSI: Trending near the midline, signaling potential downside continuation.
Order Blocks & FVGs: Key supply zones identified around $2,904 - $2,910.
📢 Trading Plan:
✅ Sell Zone: $2,899 - $2,904
🎯 Target 1: $2,878
🎯 Target 2: $2,870
❌ SL: Above $2,910 (invalidation of bearish setup)
⚠️ Alternative Scenario: A break above $2,910 may shift momentum towards $2,920+.
📌 Stay updated on economic events and USD movements to refine entries & exits! 🚀
