Trading Idea for XAU/USD (Gold)

Based on the current market situation, there is a high probability of a short-term upward movement in XAU/USD. The long-term trend remains bullish; however, we are currently experiencing a correction, which so far has not been particularly deep. Given the evolving dynamics in the broader markets, various scenarios could unfold.

The continuous rise of technology stocks and cryptocurrencies has diverted capital away from gold into equities and crypto markets. While this trend may persist for a while, it is unlikely to last indefinitely.

In my view, a short-term opportunity exists. While there is still a possibility of a deeper drop today, I anticipate a rebound during the Asian session, which could strengthen further into the European and U.S. sessions.

Good luck and trade wisely!