XAUUSD Still Holds SELL Potential: Possible BEARISH FLAG Pattern ~ 90% Rebate Exness Everyday

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XAUUSD Still Holds SELL Potential: Possible BEARISH FLAG Pattern

XAUUSD Analysis

Market Awaits US CPI Data

Gold prices remain steady after December's US PPI data came in lower than November's figures. The market is now focused on the release of US CPI data. According to a Reuters poll, annual inflation is expected to rise by 2.9%, with a monthly increase of 0.3%.

Bearish Flag Potential

A potential bearish flag pattern is forming on the H1 time frame. A confirmation for a sell signal can be sought if the price pulls back to the upper line of the pattern.

Forecast: XAUUSD WEAK

Trade Plan

Sell Area: 2674.85 - 2682.61
Stop Loss (SL): 2699.72
Take Profit (TP):
- TP1: 2659.38
- TP2: 2636.90
- TP3: 2616.28

Stay cautious and monitor the market closely for confirmation of the bearish flag pattern before executing your trade plan.

Happy Trading!