Xauusd sentiment. Buy sell

The sentiment for XAU/USD is currently biased towards buying, with a few key factors driving this sentiment:

1. Fed-inspired USD Selling Bias: The Federal Reserve's dovish stance has led to a USD selling bias, which has supported gold prices. The market anticipates a larger interest rate cut by the Fed, which would further weaken the USD and bolster gold's appeal as a safe-haven asset.
2. Weaker US Labor Market: Recent employment data has shown a weaker labor market, fueling speculation of a larger interest rate cut by the Fed. This has added to the bullish sentiment in gold.
3. Market Anticipation of Interest Rate Cuts: There is a 40% chance that the Fed will lower borrowing costs by 50 basis points at the end of the September 17-18 policy meeting, which is driving the sentiment in favor of gold.
4. Technical Indicators: The XAU/USD pair remains above its moving averages, with a bullish 20 Simple Moving Average maintaining its upward slope, providing dynamic support. Additionally, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicate a rising trend and ongoing domination by the buyers.
5. Market Optimism: Optimism in the stock market, despite mixed economic data, has contributed to the bullish sentiment in gold. The market welcomes news that pushes away recession-related fears, which has limited the downside risk for gold.

In conclusion, the sentiment for XAU/USD is currently biased towards buying, with market participants anticipating a larger interest rate cut by the Fed and a weaker USD, which typically favors gold as a safe-haven asset.