Gold Price Outlook – Trade Setup (XAU/USD)Gold / U.S. DollarFOREXCOM:XAUUSDATFX_Global📊 Technical Structure XAUUSD Gold is struggling to stay above $3,980, with clear resistance forming at $3,997–$4,005, just below the psychological $4,000 barrier. The price structure indicates a bearish short-term bias: rallies toward resistance may attract sellers targeting the $3,964–$3,956 support zone. A sustained break below $3,956 would likely extend the decline toward $3,945, while only a decisive close above $4,010 would invalidate the downside bias. 🎯 Trade Setup Entry: $3,997 – $4,005 (resistance retest) Stop Loss: $4,007 Take Profit: $3,964 / $3,956 Risk-Reward Ratio: ≈ 1 : 4.67 🌐 Macro Background Gold prices remain under pressure near $4,000 after the Federal Reserve’s hawkish tone boosted the U.S. Dollar. As FXStreet’s Lallalit Srijandorn wrote: “Gold trades in negative territory near $4,000 as traders dial back expectations for additional Fed rate cuts.” 【FXStreet】 Fed Stance: Chair Jerome Powell stated another rate cut this year is “not a foregone conclusion.” Markets now assign roughly 70% odds of a 25bps cut in December, down from over 90% a week ago. Data Impact: The ISM Manufacturing PMI fell to 48.7 in October (vs. 49.5 expected), highlighting slowing U.S. manufacturing — a potential drag on the dollar if weakness deepens. Upcoming Event: Traders are watching ADP employment data (Wednesday) for labor market clues; weaker results may offer short-term relief for gold. However, with the Fed maintaining a restrictive stance and the USD regaining momentum, gold’s upside remains capped in the near term. 🔑 Key Technical Levels Resistance: $3,997 – $4,005 Support: $3,964 – $3,956 Psychological Level: $4,000 📌 Trade Summary Gold remains confined below $4,000 amid hawkish Fed rhetoric and mixed U.S. data. Short-term strategy favours selling rallies near $4,000, targeting $3,956, with stops above $4,007. Only a breakout above $4,010 would shift bias to neutral. ⚠️ Disclaimer This analysis is for reference only and does not constitute trading advice. Trading involves significant risk, and proper risk management is essential.