GOLD Short-Term Bearish Outlook
XAUUSDGold appears likely to experience a bearish move in the short term before potentially rebounding, influenced by key psychological levels and bearish market sentiment. The current downtrend could see price action test the following levels:
- 2573-2568: The hourly fair value gap (FVG), where short-term bearish pressure may continue.
--- - 2555-2556: A breakaway gap on the 4-hour chart, marking a pivotal zone for potential bearish continuation or bullish rejection.
--- - 2535-2541: The major support zone that could act as a bullish foundation for price action, offering significant buying interest if tested.
However, should the US Federal Reserve signal a rate cut, this could trigger a bullish reversal, positioning gold for a significant upward move. A more accommodative monetary policy would likely weaken the US dollar, shifting market sentiment to favor a bullish outlook on gold.
XAUUSD 
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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.