Key Levels to Watch for Monday's Open

These levels will be crucial for determining the intraday direction.

· Resistance (Sellers' Stronghold): $2,350 - $2,355. If the price moves up to this area and gets rejected, it's a sign of continued seller strength and a good short-term bearish signal.

· Pivot Zone: $2,330 - $2,335. This was Friday's closing area. A sustained break below here opens the door for a move towards the next support.

· Support (Buyers' Defense): $2,320 - $2,315. This is a critical support zone. A decisive break and close below $2,315 would signal that sellers are in full control and could trigger a steeper decline towards $2,300 or lower.

· Major Support: $2,300. A psychological and technical level. A break here would be a very strong bearish signal.

Scenario Analysis for Monday

1. Bearish Scenario (More Likely):

   · Market opens flat or gaps down.

   · Price fails to break above $2,340 and starts falling.

   · It breaks below the $2,330 support and consolidates below it.

   · Target: A move towards $2,320 and potentially $2,310.

2. Bullish Scenario (Less Likely, Requires a Catalyst):

   · A significant, unexpected geopolitical escalation over the weekend.

   · A surprise dovish comment from a Fed official or weak US economic data released early Monday.

   · Price bounces strongly from the $2,330 or $2,320 support and breaks above $2,350 with conviction.

   · Target: A retest of $2,360 - $2,365.

Final Recommendation for a Trader

1. Wait for the Open: Do not place trades before the market opens on Monday. Weekend gaps are common and can invalidate any pre-market analysis.

2. Observe the Key Levels: Mark the support and resistance levels mentioned above on your chart.

3. Trade the Break:

   · For a Bearish Bias: Look for a rejection around $2,345-$2,350 or a break below $2,330 with momentum for a short trade, targeting $2,320.

   · For a Bullish Reversal (if it happens): Only consider a long trade if you see a strong bounce off $2,320 with increasing volume and a break back above $2,340.

Summary: The fundamental backdrop of a strong USD and hawkish Fed creates a bearish headwind. Technically, sellers have momentum. Therefore, the path of least resistance for Monday is downwards, unless a significant new bullish catalyst emerges over the weekend. Always use a stop-loss to manage your risk.  #XAU/USD#  #Signal#