XAU - SIDEWAY in downtrend! 9 December
Updated
XAU / USD trend forecast December 9, 2024
Gold price (XAU/USD) sees modest gains, hovering near $2,645 in the early Asian session on Monday. Renewed geopolitical tensions in the Middle East, combined with expectations of a Federal Reserve (Fed) rate cut, provide support to the precious metal. Investors are now focused on the upcoming release of the US Consumer Price Index (CPI) for November, scheduled for Wednesday.
H2 frame still shows downtrend - accumulation. Waiting to close year-end profit, gold price returns to 2600
/// SELL XAU : zone 2652-2655
SL: 2660
TP: 50 - 150 - 300pips (2625)
Safe and profitable trading
Gold price (XAU/USD) sees modest gains, hovering near $2,645 in the early Asian session on Monday. Renewed geopolitical tensions in the Middle East, combined with expectations of a Federal Reserve (Fed) rate cut, provide support to the precious metal. Investors are now focused on the upcoming release of the US Consumer Price Index (CPI) for November, scheduled for Wednesday.
H2 frame still shows downtrend - accumulation. Waiting to close year-end profit, gold price returns to 2600
/// SELL XAU : zone 2652-2655
SL: 2660
TP: 50 - 150 - 300pips (2625)
Safe and profitable trading
Trade active
Gold price breaks sideway zone 2655 - surpasses 2660 mark. Recovery at the beginning of the week
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