XAUUSD

Hello Traders! 👋

What are your thoughts on GOLD?

Gold continues to trade within a short-term ascending channel and is now approaching the upper boundary, which aligns with a major resistance zone formed by the previous swing high. This creates a strong confluence area where sellers may become active.
As price enters this resistance cluster, we expect selling pressure and a potential rejection. Based on the current momentum, a clean breakout above this zone does not seem likely in the short term.
Most Probable Scenarios
1-A final upward push toward the upper boundary of the channel
2-A rejection from the resistance zone
3- A move back toward the lower boundary of the ascending channel
4- If the channel breaks to the downside, an extended decline toward the next key support level becomes likely
This week includes several high-impact events—most importantly:
The U.S. Federal Reserve interest rate decision,
which may significantly increase volatility in gold.
For now, it is recommended to stay patient and wait for price to reach clearer, low-risk zones before entering any trades.
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