XAU / USD ! 11/4! Downtrend - correction continues

XAU / USD trend forecast November 4, 2024

Gold price (XAU/USD) sees modest gains around $2,740 during early Asian trading on Monday, breaking a two-day losing streak. Safe-haven demand for gold may rise due to uncertainties surrounding the US presidential election and Middle East tensions. The upcoming US presidential election on Tuesday is a key focus this week. Analysts at JPMorgan suggest that any decline in gold prices, regardless of the election results, could be a buying opportunity.

Gold price continues downtrend H1 - waiting for the US presidential election move and the decision to lower interest rates or not in November 2024

/// SELL XAU : zone 2747-2750

SL: 2755

TP: 50 - 120 - 200 pips (2730)

/// BUY XAU : zone 2717-2714

SL: 2709

TP: 50 - 120 - 200 pips (2734)

Safe and profitable trading

Trade active

Gold price is still moving within the H1 downtrend line - trading around zone 2740

Order cancelled

Gold price did not change much (moving within the price range of 2730-2750). Sideways

Trade active

The maintenance of the 2730-2750 price range awaits election results. The buyers are tending to have the upper hand

Trade closed: stop reached

Gold dropped around 2730 during the US session - investors' concerns about the market

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