Xauusd. sentiment. Buy. Sell

The sentiment for XAU/USD is currently leaning slightly towards the bearish side, as indicated by the recent price action and sentiment indicators.

1. Recent Price Action: The XAU/USD pair has experienced a slight decline, with the price moving from around $2,360 to $2,300 to $2,330. This movement suggests a mild negative sentiment in the market.
2. Sentiment Indicators: The sentiment aggregator shows a bearish sentiment, which could imply a potential reversal from the bullish trend seen earlier. Additionally, the sentiment scoreboard shows a higher percentage of bearish sentiments compared to bullish sentiments, with more traders reporting losses than gains.
3. Technical Analysis: The daily chart shows the pair holding above the 23.6% Fibonacci retracement of the April/May rally at $2,326.50, which is a relevant support level. However, the 20 Simple Moving Average (SMA) is slightly bearish, which could indicate a lack of strong buying momentum.
4. Market Conditions: The overall market sentiment is influenced by factors such as inflation data, geopolitical risks, and Fed policies. Currently, there is a wait-and-see approach as investors anticipate the release of the US Consumer Price Index (CPI) report.

Given these points, the sentiment for XAU/USD is currently leaning towards the bearish side, with some potential for further declines. However, it's important to note that sentiment can change rapidly in response to new information or market events. Traders should monitor the situation closely and consider these factors when making buy or sell decisions.