XAUUSD Analysis
US PCE Data Slows
The USD corrected after the US PCE price index showed an increase of only 0.1% in November, down from October’s 0.2%. Gold prices rebounded after previously dropping due to expectations that the Fed would cut interest rates only twice next year.
Still Held Below Resistance
The price remains constrained below the resistance area. A confirmed sell signal can be sought if there’s a pullback to this resistance zone.
Prediction: Weak XAUUSD
Trade Plan
- SELL AREA: 2628.51 – 2638.61
- STOP LOSS (SL): 2653.97
- TAKE PROFIT (TP):
- TP1: 2614.85
- TP2: 2596.25
- TP3: 2574.51