XAUUSD : Gold dropped sharply after a series of data

World gold price recovered slightly by 0.13% and is trading around 2,296 USD/ounce after a sharp decline of 3.45% last week. Gold's uptrend has weakened as the RSI on the daily chart is below the 50 level, moreover, XAU/USD is trading below the short-term SMA lines, reinforcing gold's downtrend.

The Fed's latest interest rate decision and the May consumer price index expected to be released this week could be a key test for markets, especially after Friday's strong jobs report. continue to suggest that the Fed may hold off on lowering interest rates.

Trade active:

🔝 1. XAUUSD SELL Limit 2299 - 2301 🪙🪙🪙

✔️ TP 2295
✔️ TP2 2290

❌ SL 2310

🔝 2. XAUUSD BUY Limit 2283 - 2285 🪙🪙🪙

✔️ TP : 2290
✔️ TP2 : 2295

❌ SL 2275