GOLD: What direction will XAUUSD take next week?

After a prolonged period of upward momentum, the XAUUSD is currently undergoing a distribution phase. If the XAUUSD successfully establishes a lower low, it will indicate a continuation of the downtrend, prompting us to adopt a cautious stance and prepare for short positions.

Conversely, should the XAUUSD achieve a new higher high, it will signify the persistence of the uptrend, compelling us to consider long positions. In such circumstances, we will remain vigilant and ready to seize opportunities for capitalizing on the prevailing market conditions.