XAUUSD: Plan for the new week

XAUUSD Gold prices continued to move higher during the US session and stabilized around $1,960 on Friday. Benchmark 10-year US Treasury yields remain in negative territory below 4% following weak June PCE inflation data from the US, helping XAU/USD hold its ground.

Gold prices face pressure after a short-lived recovery approaching $1956.00 as US Dollar extends bullish bias. The precious metal moved into bearish territory after breaking of a Double Top chart pattern around the $1980.00 level, which foreshadows a bearish reversal.

The yellow metal tests the area below the 20-day and 50-day Exponential Moving Averages (EMAs), which suggests that the short- and medium-term trend is turning bearish.

I predict next week will signal a decline in gold. Be patient and wait for the profits to come

Komen:

SELL XAUUSD 1960 => 1956. +40pip💟💟