XAUUSD is used to make money in the market.
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GOLD, XAUUSD, GOLD MARKET ANALYSIS ON OCTOBER 26
📍 Current price: 1984🎯Expected Increase: 1964-1947
✅REFERENCE: (PRIORITY FOR SELLING)
🔴 SELLING AROUND THE PRICE AREA 1982-1985 (Sale: 1989)
🔴 SELLING AROUND THE PRICE AREA 1990-1995 (Sale: 2000)
♻️During the US session yesterday, as soon as news was announced, "US media said Israel had agreed to postpone the ground attack on the Gaza Strip". Gold fell sharply to reach the 1964 level, but rebounded immediately afterwards and closed at 1979/Ounce.
♻️ The chart still clearly shows that the 1960-1990 area is still an important accumulation area, when gold has not been able to break through since October 19.
♻️ Today, Traders can prioritize Selling immediately at the current price range or Selling more if the price bounces up to the 1990 support zone (cut losses as soon as the price breaks out).
Wishing all Traders a very productive trading day.
❗ Note: Information is for reference only and does not encourage buying or selling "only trade when there is a clear model"
📍 Current price: 1984🎯Expected Increase: 1964-1947
✅REFERENCE: (PRIORITY FOR SELLING)
🔴 SELLING AROUND THE PRICE AREA 1982-1985 (Sale: 1989)
🔴 SELLING AROUND THE PRICE AREA 1990-1995 (Sale: 2000)
♻️During the US session yesterday, as soon as news was announced, "US media said Israel had agreed to postpone the ground attack on the Gaza Strip". Gold fell sharply to reach the 1964 level, but rebounded immediately afterwards and closed at 1979/Ounce.
♻️ The chart still clearly shows that the 1960-1990 area is still an important accumulation area, when gold has not been able to break through since October 19.
♻️ Today, Traders can prioritize Selling immediately at the current price range or Selling more if the price bounces up to the 1990 support zone (cut losses as soon as the price breaks out).
Wishing all Traders a very productive trading day.
❗ Note: Information is for reference only and does not encourage buying or selling "only trade when there is a clear model"
Note
Yesterday could be considered a crazy trading session for Gold when there were continuous sharp turns with large amplitudes.USD and US bond yields continued to have impressive price increases. The fact that USD and Gold are still in sync comes from the fear of war in Israel. Although there have been announcements that this war will not last long, perhaps until ceasefire negotiations take place, market psychology will not be good.
In addition, yesterday US stocks fell very sharply, this is likely a sign of a decline in Gold
There was a lot of important economic news released today, notably US GDP data and unemployment data. Gold price may still be at a very important price range
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