u/AppointmentPale487

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XAUUSD Sustaining Bearish Pressure, Further Decline Ahead?

Current recovery attempts remain weak, with price struggling near the moving average and Supertrend resistance zone.

Prediction: Bearish continuation remains favored unless buyers reclaim 4715–4720 with strong momentum.

Immediate Resistance: 4708

Immediate Support: 4690

My View: As long as price stays below resistance, intraday sentiment remains bearish. A decisive break below 4690 could increase selling pressure toward deeper support levels.

u/AppointmentPale487 — 1 day ago

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Gold is seen consolidating around the $4,600 mark as traders keenly await the outcome of a two-day FOMC policy meeting, due later this Wednesday. The key focus will be on the post-meeting press conference, where comments from the outgoing US Federal Reserve Chair Jerome Powell will be scrutinized for cues about the future policy path.That said, the Moving Average Convergence Divergence (MACD) histogram has turned positive, hinting at a modest recovery attempt.

Meanwhile, initial resistance is seen at the horizontal line near $4,668.04, with the 200-period EMA at about $4,703.69 acting as the next, more substantial obstacle that would need to be reclaimed to ease the prevailing bearish pressure. On the downside, weakness below the overnight swing low, around the $4,555, would leave the precious metal exposed to further slippage.

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u/AppointmentPale487 — 15 days ago