Sell XAUUSD Trendline Breakout

The XAU/USD pair (spot gold) on the M30 timeframe presents a potential selling opportunity due to a recent downward break of a well-established trendline. This suggests a shift in momentum towards the downside and a higher likelihood of further declines in the coming minutes or hours.

Key Points:

Sell Entry: Consider entering a short position around the current price of 2180.00, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels: Initial bearish targets lie at the following levels: 2157 and 2146

Stop-Loss: To manage risk, place a stop-loss order above the broken trendline, ideally around 2190.00. This helps limit potential losses if the price rallies unexpectedly and breaks back above the trendline, invalidating the short trade.

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Stronger US Dollar: A strengthening US Dollar (USD) can make gold, often seen as an inverse asset, less attractive. Recent economic data or Federal Reserve policy signals could influence the USD.

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