Technical analysis by Bentradegold about Symbol PAXG: Buy recommendation (2/26/2025)

Hello everyone, Ben here! XAUUSD is consolidating within the 2926 - 2890 range. The overall market remains bullish, but there are signs of short-selling or pre-news selling ahead of the major economic data release scheduled for Wednesday.The market is eagerly awaiting U.S. inflation and employment data, which could play a crucial role in shaping the Federal Reserve’s next move. Despite a weaker dollar and growing expectations of monetary easing, Fed Chair Jerome Powell remains cautious, signaling a prudent approach to policy adjustments.On the other hand, gold demand continues to be strongly supported by China, as the country increases its purchases. At the same time, rising concerns over stagflation in the U.S. further enhance gold’s appeal as a safe-haven asset. However, traders are closely monitoring upcoming economic reports and the potential impact of China's tariffs on U.S. goods, which could add further market volatility.The key focus now is 2926, where price action is shaping a potential accumulation phase before a breakout. If price stabilizes above this resistance, it could trigger a significant bullish impulse, signaling a continuation of the uptrend.However, a major challenge remains—if the price accelerates too quickly toward resistance, the risk of a false breakout increases. In such a scenario, the market may pull back to 2890 to test liquidity zones, ensuring structural confirmation before making a legitimate move back toward 2926 and beyond.What are your thoughts on gold?Best regards, Bentradegold!