XAUUSD | GOLD Reaching Exhaustion – Potential Reversal Incoming?

📌 Gold at Key Resistance – Will the Bulls Hold?
🔸 Gold has been on a strong bullish rally, but it's now testing a major supply zone at $2,908 - $2,910.
🔸 The recent upside was fueled by inflation concerns, a weakening USD, and safe-haven demand.
🔸 However, with Fed speakers hinting at no early rate cuts, gold could face pressure.

🏦 Interest Rate Outlook & Dollar Strength
🔹 The Fed’s higher-for-longer stance remains a key headwind for gold.
🔹 If bond yields rise, gold could see profit-taking, leading to a potential correction.

🌎 Market Sentiment & Economic Data
🔸 Traders are eyeing the upcoming NFP report & Powell’s speech, which could trigger volatility.
🔸 If economic data remains strong, gold might struggle to maintain bullish momentum.

🔍 Technical Analysis (4H Timeframe)
🚀 Key Levels & Market Structure
🔹 Supply Zone: $2,908 - $2,910 (Strong resistance)
🔹 Support Levels:
🔸 $2,710 – First potential retracement level.
🔸 $2,521 – Major demand zone (high probability buy area).

🔄 Potential Bearish Reversal Setup
📌 Price is testing strong resistance, indicating a possible pullback.
📌 Rejection & weak bullish momentum suggest a shift in market structure.
📌 Bearish confirmation if price fails to break and hold above $2,910.

📊 Trade Plan
📉 Bearish Scenario
✅ Sell if price fails to break resistance → Target: $2,710 & $2,521
❌ Invalidated if price breaks & holds above $2,910

📈 Bullish Alternative
🔹 If price holds above $2,910, we could see a breakout towards new highs.

🔥 Final Thoughts:
Gold is at a critical decision point! Will we see a strong rejection, or is a breakout coming? Comment below! 📉👇