$XAU is showing a recovery after recent selling pressure in the gold market.
Gold is trading around the $4,150 level, with intraday volatility remaining high.
The short-term outlook is cautiously bullish due to a weaker US dollar.
However, the overall technical trend remains bearish on higher timeframes.
Immediate resistance is located around $4,163.
A breakout above $4,163 could open the way toward $4,193.
Immediate support is near $4,074.
A breakdown below $4,074 could trigger further selling pressure.
Falling US Treasury yields are currently supporting gold prices.
Upcoming US economic data may increase market volatility.
Traders should wait for breakout confirmation before entering a position.
Overall Outlook: Short-term recovery, but the bro
#EtherTook60%OfCryptoLiquidations #BlackRockCryptoAssetsJump63%
Gold is trading around the $4,150 level, with intraday volatility remaining high.
The short-term outlook is cautiously bullish due to a weaker US dollar.
However, the overall technical trend remains bearish on higher timeframes.
Immediate resistance is located around $4,163.
A breakout above $4,163 could open the way toward $4,193.
Immediate support is near $4,074.
A breakdown below $4,074 could trigger further selling pressure.
Falling US Treasury yields are currently supporting gold prices.
Upcoming US economic data may increase market volatility.
Traders should wait for breakout confirmation before entering a position.
Overall Outlook: Short-term recovery, but the bro
#EtherTook60%OfCryptoLiquidations #BlackRockCryptoAssetsJump63%