Gold is trading near the upper boundary of an ascending channel, where strong resistance is visible. The chart also shows a SHORT signal from the trading system, suggesting sellers are defending this area.

Key Technical Observations
✅ Price is testing a major resistance zone around 4064–4068.
✅ The ascending channel resistance increases the probability of a bearish rejection.
✅ The current trade setup offers a favorable 1:3 Risk-to-Reward ratio.
✅ A break below the recent support could trigger stronger bearish momentum.
Trading Signal

📶 SELL XAU/USD

Entry: 4064 – 4068
Stop Loss: 4083
Take Profit 1: 4040
Take Profit 2: 4010
Take Profit 3: 3986
Trade Confirmation

Wait for a bearish rejection candle (such as a bearish engulfing or strong rejection wick) on the 1-hour chart before entering the trade. This helps reduce the risk of a false breakout.

Invalidation

If the price closes above 4083–4085 on the 1-hour timeframe with strong bullish momentum, the bearish setup becomes invalid. In that case, Gold could continue higher toward 4100–4115.

Overall Outlook: The technical structure currently favors a SELL while price remains below the resistance zone and inside the upper part of the ascending channel. Trade with proper risk management and monitor upcoming high-impact U.S. economic news that could increase volatility.