Chart Analysis & Prediction for XAU/USD (Gold vs. USD)

Key Levels:
Resistance Levels:

$3,035.81: Marked as a strong resistance level (selling zone).

$3,057.42: The highest resistance level, which could act as a rejection point.

Support Levels:

$3,001.90: First support level, where price might pause before continuing downward.

$2,982.88 - $2,982.53: The next support zone, highlighted as a potential target.

$2,960.08: A deeper support area where price may find strong buying interest.

Selling Zone & Expected Movement:
Selling Zone (Highlighted in Gray): This is an area between $3,035 - $3,057, where sellers are expected to enter the market.

Projected Price Movement:

The price is currently trading around $3,015.15.

If it moves back into the selling zone ($3,035 - $3,057) and fails to break higher, it could face strong resistance.

A downward move is expected from this zone, targeting $3,001.90, then potentially falling to $2,982.88 - $2,982.53.

If bearish pressure continues, the final target could be $2,960.08.Trading Strategy:
Short Position (Sell) Setup:

Entry: Around $3,035 - $3,057 (selling zone).

Stop-Loss: Above $3,057, to protect against a breakout.

Take-Profit Levels:

First target: $3,001.90

Second target: $2,982.88 - $2,982.53

Final target: $2,960.08 (if the bearish trend continues).

Confirmation Before Entry:

Look for bearish candlestick patterns (like rejection wicks, engulfing candles) in the selling zone before entering a short trade.

Check volume and momentum indicators to confirm weakness.

Conclusion:
The chart suggests a potential sell setup in the highlighted selling zone.

If price enters this zone and shows signs of rejection, a downward move toward $2,982 - $2,960 could follow.

However, if gold breaks above $3,057, it could invalidate the bearish setup and push higher.