DOW Theory ! XAU ! 10/14 uptrend
Updated
XAU / USD trend forecast October 14, 2024
Gold price (XAU/USD) rises for the third consecutive day on Monday, reaching over $2,667, a one-week high in early European trading. Expectations of further Federal Reserve rate cuts due to a favorable inflation outlook drive demand for the non-yielding metal. Additionally, growing geopolitical tensions in the Middle East provide extra support for the safe-haven asset.
Gold price M30 frame shows signs of breaking DOW uptrend - waiting for old peak resistance zone 2685
/// SELL XAU : zone 2683-2686
SL: 2691
TP: 50 - 100 - 300 pips (2656)
Safe and profitable trading
Gold price (XAU/USD) rises for the third consecutive day on Monday, reaching over $2,667, a one-week high in early European trading. Expectations of further Federal Reserve rate cuts due to a favorable inflation outlook drive demand for the non-yielding metal. Additionally, growing geopolitical tensions in the Middle East provide extra support for the safe-haven asset.
Gold price M30 frame shows signs of breaking DOW uptrend - waiting for old peak resistance zone 2685
/// SELL XAU : zone 2683-2686
SL: 2691
TP: 50 - 100 - 300 pips (2656)
Safe and profitable trading
Trade active
US session: bank holiday gold price fell back below 2650 area. Sideways
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