Gold Remains Under Bearish Pressure Ahead of US CPI DataGoldOANDA:XAUUSDMian-FXSignals📊 Market Overview: XAU/USD is currently trading around 4,143–4,155 USD/oz, following gold’s third consecutive daily decline. Investors are exercising caution ahead of the US September CPI data, scheduled for release today, which could influence expectations for the Federal Reserve’s interest rate policy. The US dollar has eased from its recent highs, providing some support for gold. However, rising oil prices amid tensions around the Strait of Hormuz have heightened inflation concerns, reinforcing expectations that the Fed may maintain a tight monetary policy, which continues to weigh on gold prices. 📉 Technical Analysis: Key Resistance Levels: 4,160–4,170 USD: Immediate resistance where selling pressure may re-emerge. 4,180–4,200 USD: Stronger resistance zone; a breakout above this area would improve the short-term recovery outlook. Key Support Levels: 4,135–4,145 USD: Immediate support zone to watch. 4,115–4,125 USD: Next support zone if selling pressure intensifies. EMA 09: The short-term price structure remains bearish. H1 chart analysis indicates that gold is trading below the moving averages. The EMA 09 signal should be verified directly on the chart to confirm the current trend. Candlestick Patterns / Volume / Momentum: Consecutive declines and lower rebound highs suggest that sellers remain in control. Bearish momentum needs further confirmation from a candle close below support. However, without direct volume data, it is difficult to confirm whether selling pressure is intensifying. 📌 Market Outlook: Gold may extend its short-term decline if it breaks below the 4,135–4,145 USD support zone and remains below this area, potentially testing 4,115–4,125 USD. Conversely, if gold holds above support and breaks above 4,170 USD, a recovery toward 4,180–4,200 USD may follow. The US CPI release could trigger sharp market movements, so traders should avoid chasing price movements immediately before the announcement. 💡 Suggested Trading Strategy: 🔻 SELL XAU/USD at: 4,167–4,170 🎯 TP: 40 / 80 / 200 / 300 pips ❌ SL: 4,175 🔺 BUY XAU/USD at: 4,135–4,132 🎯 TP: 40 / 80 / 200 / 300 pips ❌ SL: 4,127