XAUUSD: Looking for SELL Opportunities Early This Week! Bearish Rising Wedge Pattern Identified! ~ 90% Rebate Exness Everyday

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XAUUSD: Looking for SELL Opportunities Early This Week! Bearish Rising Wedge Pattern Identified!

XAUUSD Analysis

Profit-Taking Pressures Gold Prices

Gold prices are under pressure due to profit-taking activities and news of a ceasefire agreement in the Middle East between Israel and Hezbollah.

Bearish Rising Wedge Pattern

On the H1 timeframe, a Bearish Rising Wedge pattern is visible. This pattern indicates a potential downside move, providing an opportunity to look for SELL positions near the lower boundary of the wedge.

Forecast: Weak XAUUSD

Trade Plan:

SELL Area: 2628.10 – 2645.36
Stop Loss (SL): 2670.56
Take Profit (TP):
- TP1: 2605.92
- TP2: 2570.67
- TP3: 2534.26

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