Gold Remains Under Downward Pressure Ahead of PCE DataGoldOANDA:XAUUSDMian-FXSignals📊 Market Overview: XAU/USD is trading around 4,038 USD/oz, down approximately 0.7% during the session. Gold is under pressure after the Fed kept interest rates unchanged at 3.75%–4.00%, while hawkish signals from Fed officials have made the market more cautious about the monetary policy outlook for the end of the year. The main focus today is the US PCE inflation data. If inflation comes in higher than expected, the US dollar and Treasury yields could rise, putting further pressure on gold. Conversely, weaker-than-expected data could support a recovery. 📉 Technical Analysis: • Key Resistance Levels: Resistance 1: 4,050–4,065 Resistance 2: 4,080–4,105 • Nearest Support Levels: Support 1: 4,025–4,035 Support 2: 3,995–4,005 • EMA 09: Price appears to be trading below the short-term moving average, indicating that bearish pressure remains dominant. Check the EMA 09 directly on your trading chart to confirm the latest signal. • Candlestick Patterns / Volume / Momentum: Gold remains under selling pressure following its recent decline. Short-term momentum has not yet confirmed a sustainable bullish reversal. A strong bearish candle accompanied by rising volume near resistance would increase the likelihood of further downside. Conversely, a clear bullish reversal candle at support could trigger a technical rebound. Actual trading volume should be verified on the chart. 📌 Outlook: Gold may continue to decline in the short term if it fails to break above 4,050–4,065 and subsequently breaks below the 4,025–4,035 support zone. In that case, 3,995–4,005 will be the next area to watch. However, the PCE data could trigger significant volatility and change the short-term market direction. 💡 Suggested Trading Strategy: 🔻 SELL XAU/USD at: 4,062–4,065 USD 🎯 TP: 40 / 80 / 200 / 300 pips ❌ SL: 4,070 🔺 BUY XAU/USD at: 4,028–4,025 USD 🎯 TP: 40 / 80 / 200 / 300 pips ❌ SL: 4,020