Technical analysis by ProfessorCEWard about Symbol PAXG: Sell recommendation (6/28/2024)

On the intermediate timeframe of 15H, there is a prevailing sentiment that suggests a strengthening USD, which could potentially lead to a downtrend in XAUUSD (gold vs. US dollar).Although the Federal Reserve's policy of increasing interest rates is aimed at combating inflation, it may have the unintended consequence of weakening the USD in the medium term. Rising interest rates have the potential to hinder economic growth, which may cause investors to seek out safe-haven assets such as gold.On the other hand, if inflation remains a concern, the Fed could potentially take a more assertive approach in raising rates. This could result in a stronger USD and potentially reduce the attractiveness of gold.In general, the intermediate-term trend for XAUUSD is currently pointing towards a downtrend.SELLING OPPORTUNITIESSLO @ 2343SSO @ 2320