XAU ! 10/28 ! sideway move in trendline
Updated
XAU / USD trend forecast October 28, 2024
Gold price (XAU/USD) starts the new week with a slight bearish gap, unable to sustain Friday’s gains near $2,750. Persistent USD strength, supported by rising US Treasury yields and expectations of smaller Fed rate cuts, puts pressure on the metal. A positive risk sentiment also adds to the downward pull.
However, safe-haven demand from Middle East tensions and US election uncertainty limits further downside for gold. Traders may remain cautious and hold off on strong bearish positions ahead of key US data this week, including Q3 GDP, the PCE Price Index, and the Nonfarm Payrolls report.
On Monday, gold price moved sideways within 2 trendlines, waiting for NF news fluctuations this week.
/// SELL XAU : zone 2743-2746
SL: 2751
TP: 50 - 200 - 300 pips (2716)
Safe and profitable trading
Gold price (XAU/USD) starts the new week with a slight bearish gap, unable to sustain Friday’s gains near $2,750. Persistent USD strength, supported by rising US Treasury yields and expectations of smaller Fed rate cuts, puts pressure on the metal. A positive risk sentiment also adds to the downward pull.
However, safe-haven demand from Middle East tensions and US election uncertainty limits further downside for gold. Traders may remain cautious and hold off on strong bearish positions ahead of key US data this week, including Q3 GDP, the PCE Price Index, and the Nonfarm Payrolls report.
On Monday, gold price moved sideways within 2 trendlines, waiting for NF news fluctuations this week.
/// SELL XAU : zone 2743-2746
SL: 2751
TP: 50 - 200 - 300 pips (2716)
Safe and profitable trading
Trade active
+ 35 pips , from entry sell 2743-2746 Trade closed: target reached
+ 45 pips profit from entry sell 2743-2745 . Nice Trade active
+ 100 pips , PLAN DAY SELL 2743-2746, amazing Trade closed: target reached
160 pips profit sell plan day 2743-2746 Trade active
Gold price recovered - increased back to the 2740 area. Still in the sideway rangeTrade closed: stop reached
Strong buying pressure - could see new ATH before US presidential election November 5, 2024
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