Technical analysis by Scalp_Trader68 about Symbol PAXG: Buy recommendation (8/14/2024)

Gold prices (XAU/USD) continued to come under selling pressure on Wednesday, marking the second straight day of declines and pulling away from monthly peaks retested earlier this week. General optimism in equity markets has weakened demand for the safe-haven precious metal, although geopolitical tensions from conflict in the Middle East have helped limit declines.Additionally, expectations of deeper interest rate cuts by the Federal Reserve, fueled by signs of softening inflation, supported gold prices. However, traders are still cautious, waiting for more clear signals about the Fed's policy roadmap. Therefore, the market focus today is on US consumer inflation data.Note the price range:Sell ​​zones: 2476 - 2478Stop loss: 2482Take profit 1: 2465Take profit 2: 2455Sell zone 2476 - 2478: +40pipsSELL 2476 - 2478: +140PIPS HIT TP1PLAN SELL 2476 - 2478: +300PIPS