XAU ! 10/24 ! Adjustment and price decrease
Updated
XAU / USD trend forecast October 24, 2024
Gold price (XAU/USD) rises to the $2,736-$2,737 range during the European session, recovering some losses from the previous day’s pullback from a record high. Ongoing Middle East conflicts and uncertainty around the upcoming US Presidential election on November 5 boost demand for the safe-haven asset. Additionally, a slight dip in the US Dollar from its near three-month high and falling US Treasury yields further support gold's upward movement.
Gold price continues to be in the long-term uptrend - however, there needs to be adjustments for the market to stabilize and rebalance. Expected price range 2700 - 2680 in the short term
/// SELL XAU : zone 2740-2743
SL: 2748
TP: 50 - 200 - 300 pips (2713)
Safe and profitable trading
Gold price (XAU/USD) rises to the $2,736-$2,737 range during the European session, recovering some losses from the previous day’s pullback from a record high. Ongoing Middle East conflicts and uncertainty around the upcoming US Presidential election on November 5 boost demand for the safe-haven asset. Additionally, a slight dip in the US Dollar from its near three-month high and falling US Treasury yields further support gold's upward movement.
Gold price continues to be in the long-term uptrend - however, there needs to be adjustments for the market to stabilize and rebalance. Expected price range 2700 - 2680 in the short term
/// SELL XAU : zone 2740-2743
SL: 2748
TP: 50 - 200 - 300 pips (2713)
Safe and profitable trading
Trade active
Gold price returns to resistance at 2740 - waiting for reaction hereOrder cancelled
Gold price increased back to the 2740 area before today's US session, waiting for a downward correctionTrade active
+ 30 pips from entry sell 2740-2743 , amazing Trade closed: stop reached
+ 85 pips from entry SELL 2740-2743 Trade active
180 pips from entry SELL 2740-2743Trade closed: stop reached
+ 215 pips profit sell 2740-2743 Trade active
Gold price adjusted down around 2730-2740. Market hesitation
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