TRADE SETUP XAUUSD

Where do we stand fundamentally?

The broader context includes a weakened U.S. dollar due to expectations of Federal Reserve rate cuts amid fears of a tariff-driven economic slowdown. This dynamic continues to support gold's bullish trend, though some traders caution about profit-taking or a short-term pullback as the market digests the tariff news. The focus remains on how today’s developments, particularly Trump’s tariff announcements, will influence market sentiment and gold’s next move.

XAUUSD is reaching the top of the uptrend channels 3150 and is being rejected by it. This is now a strong uptrend continuation resistance. If you are long from lower levels, take some profit here. A break above this level is required for a continuation higher.

Only in the case of a strong confirmed breakout higher above this level we can invalidate downside reversal and a significant pullback into 3000. A break below 3050 will accelerate the downside reversal.

_{I am taking a near-term short-trade entry with an SL above 3100 to target 3000 and possibly lower. You can also trade it with options by buying put options.}