Technical analysis by TradeWithTheTrend3344 about Symbol PAXG: Sell recommendation (1/13/2025)

Hello, XAUUSD is expected to face initial downside pressure, with the first key level to test being the 1-month pivot point (PP) at 2644.402. If the price establishes itself below this level, it may then target the 3-month low at 2536.855, followed by the 6-month low at 2353.13. Each confirmed breach of these levels could signal further downside potential.Key Developments Recap:Strong U.S. jobs data (NFP: 256K vs. 200K forecast) highlighted economic resilience and reduced expectations for Fed rate cuts.Mixed signals from Trump on trade policy have added to market uncertainty.Fed officials have broadly indicated a preference for gradual rate adjustments, maintaining a cautious stance on cuts.The U.S. monetary policy remains robust, with solid job data reducing the likelihood of rate cuts. The current drivers include labor market strength, a hawkish Fed outlook, and rising yields.Upcoming Key Releases:U.S. CPI (Wednesday): A critical indicator for the Fed’s rate path, with consensus expecting 2.4% y/y. A stronger-than-expected CPI reading could reinforce gradual USD strength.In the long term, there is potential for the price to test the 1-year pivot point (PP), depending on how these factors evolve. No Nonsense. Just Really Good Market Insights. Leave a BoostTradeWithTheTrend3344