XAU/USD: Navigating Sideways Action for Potential Swing Opportunities

Market Overview & Technical Setup

Good morning, traders. My focus today is on XAU/USD, which is currently displaying a sideways trend, as indicated by its current price of 2918.13 and a narrow 24-hour range between 2915.32 and 2920.94. This consolidation phase suggests a period of indecision in the market, with neither buyers nor sellers establishing clear dominance.
From a technical perspective, we observe immediate support at 2915.32, which aligns closely with the lower bound