GOLD WILL CONTINUE UPTREND
Updated
hello guys welcome to the new week . im back again lets analysis gold .
gold made an ascending channel for a few weeks after that moved in a range area this is like a continuation pattern
on October 10 and 11, 2024, economic and geopolitical news had a significant impact on gold prices. Geopolitical tensions, particularly the conflict between Israel and Iran, pushed investors toward gold as a safe-haven asset, increasing its demand and driving up its price. Additionally, the release of U.S. inflation indicators, such as the Consumer Price Index (CPI) and Producer Price Index (PPI), shaped expectations around Federal Reserve policies on interest rates. Despite stable interest rates, gold remained strong against the U.S. dollar.
These factors collectively boosted gold demand, leading to a rise in its price in the Forex market.
Technical Analysis of Gold (XAU/USD)
Recently, gold (XAU/USD) has shown significant movements in the Forex market. After a bearish correction, gold rebounded and found strong support around the $2600 level. U.S. inflation data, including the Consumer Price Index (CPI) and the Producer Price Index (PPI), have had a direct impact on the price of gold and the U.S. dollar.
On October 11, 2024, a bullish reversal pattern formed on the gold chart, indicating the potential start of an upward trend. If the price remains above $2630, there is a likelihood of an increase towards $2670. However, if it falls below $2625, further declines may be expected. Additionally, rising geopolitical tensions have increased demand for gold as a safe-haven asset.
In the short term, gold's volatility will depend on the status of inflation indicators and the strength of the U.S. dollar. Overall, the outlook for gold remains cautiously bullish.
gold made an ascending channel for a few weeks after that moved in a range area this is like a continuation pattern
on October 10 and 11, 2024, economic and geopolitical news had a significant impact on gold prices. Geopolitical tensions, particularly the conflict between Israel and Iran, pushed investors toward gold as a safe-haven asset, increasing its demand and driving up its price. Additionally, the release of U.S. inflation indicators, such as the Consumer Price Index (CPI) and Producer Price Index (PPI), shaped expectations around Federal Reserve policies on interest rates. Despite stable interest rates, gold remained strong against the U.S. dollar.
These factors collectively boosted gold demand, leading to a rise in its price in the Forex market.
Technical Analysis of Gold (XAU/USD)
Recently, gold (XAU/USD) has shown significant movements in the Forex market. After a bearish correction, gold rebounded and found strong support around the $2600 level. U.S. inflation data, including the Consumer Price Index (CPI) and the Producer Price Index (PPI), have had a direct impact on the price of gold and the U.S. dollar.
On October 11, 2024, a bullish reversal pattern formed on the gold chart, indicating the potential start of an upward trend. If the price remains above $2630, there is a likelihood of an increase towards $2670. However, if it falls below $2625, further declines may be expected. Additionally, rising geopolitical tensions have increased demand for gold as a safe-haven asset.
In the short term, gold's volatility will depend on the status of inflation indicators and the strength of the U.S. dollar. Overall, the outlook for gold remains cautiously bullish.
Note
I will send gold scalping signal tomorrow be ready Note
Lets make some profit
Scalping signal
Gold buy 2661.5-2659.5
Note
Tp 2665.5
Tp 2669
Tp 2673
Sl 2656.5
Note
From 2659.5
+20 pips profit done
Nice scalping
Note
Near +40 pips
Great profit
Note
Another signal
Gold buy 2656-2654
Note
Tp 2660
Tp 2665
Tp 2670
Sl 2651
Note
Buy limit 2652
Tp 2654
Tp 2660
Tp 2665
Sl 2647
Both signal sl 2647
Note
From 2654
+20 pips profit done
Delete limit order didnt active
Note
Gold buy 2650-2648Note
Tp 2654
Tp 2658
Tp 2663
Sl 2645
Note
+20 pips profit done
Nice scalping
Note
Price moved according my analysis +200 pipsTrade closed: target reached
Target2 achieved +600 pips
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.