XAU | USD! sideway downtrend 10/1/24
Updated
XAU / USD trend forecast October 1, 2024
Gold price (XAU/USD) holds modest gains in early European trading on Tuesday but remains below last week's record high. Fed Chair Jerome Powell's hawkish remarks on Monday led investors to reduce expectations of aggressive rate cuts. This supported the US Dollar, which continues to recover from its lowest level since July 2023, creating a headwind for gold.
Based on M30, price adjustment h1 frame, XAU down
/// BUY XAU : zone 2624-2626
SL: 2618
TP: 50 - 100 - 150 pips (2639)
Safe and profitable trading
Gold price (XAU/USD) holds modest gains in early European trading on Tuesday but remains below last week's record high. Fed Chair Jerome Powell's hawkish remarks on Monday led investors to reduce expectations of aggressive rate cuts. This supported the US Dollar, which continues to recover from its lowest level since July 2023, creating a headwind for gold.
Based on M30, price adjustment h1 frame, XAU down
/// BUY XAU : zone 2624-2626
SL: 2618
TP: 50 - 100 - 150 pips (2639)
Safe and profitable trading
Trade active
Gold price recovered and returned to resistance at 2648 - waiting for a downward reaction at the trendlineTrade active
Gold price breaks trendline H1 - recovers higher than 2650 areaTrade active
Gold price returned to resistance at 2671 thanks to the war news - then dropped sharply. Mainly scanning liquidity and waiting for NF sideway
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