sideway and accumulation! XAU! 10/8
Updated
XAU / USD trend forecast October 8, 2024
Gold prices dipped during Monday's North American session, trading between $2,630 and $2,659, as rising US Treasury yields limited gains. However, the intensifying conflict in the Middle East prevented further declines. XAU/USD is at $2,645, down 0.30%. Market sentiment worsened due to ongoing violence, with Israel expanding ground operations in Lebanon and Hamas firing rockets at Tel Aviv. Ceasefire hopes diminished as groups like the Houthis also attacked ships in the Red Sea, escalating the conflict.
The price range of 2625-2685 is almost awaited by investors to wait for the next interest rate information, the longer the accumulation, the stronger the gold price fluctuates. Sideway will continue today.
/// BUY XAU : zone 2624-2627
SL: 2619
TP: 50 - 100 - 200 pips (2644)
Safe and profitable trading
Gold prices dipped during Monday's North American session, trading between $2,630 and $2,659, as rising US Treasury yields limited gains. However, the intensifying conflict in the Middle East prevented further declines. XAU/USD is at $2,645, down 0.30%. Market sentiment worsened due to ongoing violence, with Israel expanding ground operations in Lebanon and Hamas firing rockets at Tel Aviv. Ceasefire hopes diminished as groups like the Houthis also attacked ships in the Red Sea, escalating the conflict.
The price range of 2625-2685 is almost awaited by investors to wait for the next interest rate information, the longer the accumulation, the stronger the gold price fluctuates. Sideway will continue today.
/// BUY XAU : zone 2624-2627
SL: 2619
TP: 50 - 100 - 200 pips (2644)
Safe and profitable trading
Trade active
The price of gold is falling and is moving in the sideway price range - touching the trendline H1 2632. Increase again
Mainly there is still a struggle between buyers and sellers
Trade active
Gold in falling range - still waiting for prices to fall to test strong support at 2624-2627Note
Gold prices move unpredictably - still in the sideway zone but fluctuating widely and widelyNote
Gold price adjusts before FOMC - strong selling force. Heading towards 2600 support
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