🙏Market Analysis today 🎂Product: XAU/USD 🔥Prediction: Decrease 🙋‍♂️Fundamental Analysis: Gold price is seen consolidating in a range during the Asian session on Tuesday. Growing acceptance that the Fed will start cutting interest rates in September keeps the US Dollar close to over a three-month low and continues to offer support to the non-yielding yellow metal. The upbeat market mood is seen acting as a headwind for the safe-haven precious metal. 🙋‍♂️Technical Analysis: From a technical point of view, XAU/USD retreats from intraday highs mid-American afternoon, but the daily chart shows the bullish case is alive and kicking. The pair is rallying far above bullish moving averages as technical indicators picked up upward momentum, approaching overbought readings and without signs of giving up. In the near term, and according to the 4-hour chart, XAU/USD may struggle to extend gains. Technical indicators are retreating from overbought readings with uneven strength, still far from suggesting an upcoming slide. Nevertheless, the pair is developing above a bullish 20 Simple Moving Average (SMA) currently at around $2,403, while the longer moving averages slowly gain upward traction, but are far below the shorter one to become relevant.