In summary, from both a fundamental and technical standpoint, the XAU/USD pair is currently in a highly unpredictable zone. There is a significant amount of liquidity located below the key price level of 1981.103 (Yellow) and the Fibonacci 50 level (light blue). It is expected that the market will aim to reach this liquidity and subsequently move in the opposite direction toward matching supply and demand zones.
The most likely scenario is a liquidity grab above the key price at 1981, followed by a swift bearish movement towards the 4-hour supply zone.
From a fundamental perspective, several factors may impact the XAU/USD pair this week:
The release of US employment data on Friday: Positive employment data could strengthen the US dollar and potentially lower gold prices.
The release of the minutes from the latest Federal Reserve meeting on Wednesday: Any hawkish comments from the Fed could also have a negative impact on gold prices.
News or developments related to the conflict in Eastern Europe: Geopolitical uncertainty tends to drive investors towards safe-haven assets like gold, so any developments in this regard may support gold prices.
Overall, the outlook for the XAU/USD pair this week is uncertain.