XAU / USD trend forecast January 6, 2024
Gold prices (XAU/USD) continue to retreat from Friday's nearly three-week high near $2,665, facing heavy selling pressure for the second consecutive day as the week begins. The decline pushes the precious metal to a fresh daily low around $2,625 during the early European session, primarily influenced by the Federal Reserve's (Fed) hawkish pivot. The Fed's signal to slow the pace of rate cuts in 2025 sustains elevated US Treasury yields, reducing the appeal of the non-yielding yellow metal.
Short term frame - gold price breaks support 2632, correction at the beginning of the week, waiting for recovery and continue to decrease in the short term
/// SELL XAU : zone 2635-2638 scalping
SL: 2641
TP: 50 - 100 - 150pips (2623)
Safe and profitable trading
Gold prices (XAU/USD) continue to retreat from Friday's nearly three-week high near $2,665, facing heavy selling pressure for the second consecutive day as the week begins. The decline pushes the precious metal to a fresh daily low around $2,625 during the early European session, primarily influenced by the Federal Reserve's (Fed) hawkish pivot. The Fed's signal to slow the pace of rate cuts in 2025 sustains elevated US Treasury yields, reducing the appeal of the non-yielding yellow metal.
Short term frame - gold price breaks support 2632, correction at the beginning of the week, waiting for recovery and continue to decrease in the short term
/// SELL XAU : zone 2635-2638 scalping
SL: 2641
TP: 50 - 100 - 150pips (2623)
Safe and profitable trading
Trade active
Gold price hit the resistance area at 2649, falling sharply to 2622Trade closed: target reached
Gold price sideway in the price range 2635-2645 during the Asian session - Tuesday
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💠 Trend analysis: XAU, BTC, Currency,...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.