Gold May Undergo Short-Term Correction Amid Technical Resistance

📊 Market Overview:
Gold is currently trading around $3,314/oz, slightly down after testing resistance near $3,350. The market faces pressure from a strengthening USD and inflation concerns. Investors are closely monitoring signals from the Federal Reserve regarding future monetary policy.

📉 Technical Analysis:
• Key Resistance: $3,350
• Nearest Support: $3,200
• EMA: Current price is near the 50-day EMA, indicating a potential trend reversal if resistance holds.

📌 Outlook:
Gold may decline in the short term if it fails to break above the $3,350 resistance and the USD continues to strengthen.

💡 Suggested Trading Strategy:
SELL XAU/USD at: $3330
o 🎯 TP: $3,310
o ❌ SL: $3,340
BUY XAU/USD at: $3,230
o 🎯 TP: $3,250
o ❌ SL: $3,220