The analysis of XAU/USD , also known as the gold market, suggests that the market is in a bearish scenario based on two key technical factors and underlying fundamentals. Firstly, the break of an ascending trendline and subsequent retest indicate that the market is losing its bullish momentum and could continue to decline. The retest confirms that the previous support level has now become resistance, adding further bearish weight to the market. Secondly, fundamental factors such as a stronger US dollar and declining demand for safe-haven assets also support a bearish outlook for XAU/USD . These factors combined suggest that XAU/USD is in a bear market, and traders should approach the market with caution.
