Technical analysis by RichDadph-FX about Symbol PAXG: Sell recommendation (5/16/2023)

Gold prices are struggling to maintain their week-start corrective bounce as mixed sentiment and anxiety over top-tier US data and debt ceiling talks weigh on XAU/USD buyers. However, the US Dollar bears have taken a breather amid hawkish Federal Reserve talks. Additionally, China's economic report indicates that economic growth is set to rebound sharply, which is underpinning the Gold price upside. The XAU/USD traders are bracing for the key US Retail Sales and debt ceiling negotiations among the US policymakers and are expecting a pullback unless the Gold price can sustain the $2,000 breakdown.TRADE IDEA DETAILS:CURRENCY PAIR: #XAUUSDCURRENT TREND: Mildly bearishTRADE SIGNAL: ↘️Sell👉ENTRY PRICE: $2,015✅TAKE PROFIT: $1,970❌STOP LOSS: $2,027#goldprice #XAUUSD #USdata #debtceiling #Fedtalks