Get started

Beyond Technical Analysis

Downtrend continues - GOLD slows down⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold (XAU/USD) faces heavy selling pressure heading into Wednesday’s European session, dropping to near $2,700, marking a nearly three-week low. With Republican nominee Donald Trump leading the US presidential race and likely to become the 47th president, the US Dollar is seeing a strong rally, spurring sell-offs in gold. Concerns over deficit spending and expectations for a less aggressive rate cut from the Federal Reserve are also driving US Treasury yields higher, diverting interest from the non-yielding gold. Additionally, a risk-on mood—shown by a strong rally in US equity futures—suggests a downward trend may continue for XAU/USD. ⭐️Personal comments NOVA: The election results pushed gold prices back to the support price range of 2700, a recovery in correction mode. Still maintaining the upcoming gold support zone: 2700 - 2680 ⭐️SET UP GOLD PRICE: 🔥SELL GOLD zone: $2748 - $2750 SL $2755 TP1: $2740 TP2: $2725 TP3: $2715 note scalping support: 2713 🔥BUY GOLD zone: $2700 - $2702 SL $2695 TP1: $2708 TP2: $2715 TP3: $2730 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account
OANDA:XAUUSDShort
by Nova-Scalper
5
Pepe Coin Price Eyes 1,850% Gains Amid Massive Whale AccumulatioPepe Coin price targets 1,850% gains as whale accumulation surges after Trump’s election win. Rising interest fuel hope for a PEPE breakout. Pepe Coin Price Eyes 1,850% Gains Amid Massive Whale Accumulation Highlights Pepe Coin price eyes 1800% gains after whale accumulation ramps up. PEPE experienced the largest exchange outflows in the past two months. Derivative traders are gearing up to enter long positions on PEPE. Following the victory of Donald Trump in the U.S. election, Pepe Coin price spiked as whales began a massive accumulation spree, signaling a potential PEPE price surge. The price of PEPE soared by 13% over the last 24 hours, hitting a high of $0.000096 before retracing to settle around $0.0000923 at 06:10 a.m. ET.
Long
by bullanceprime
Bitcoin's Fate: Harris or Trump? / 19Days left for BTCBINANCE:BTCUSDT COINBASE:BTCUSD Hello Traders. With the 2024 election around the corner, Bitcoin's future is uncertain. If Kamala Harris wins, expect tougher regulations, potentially slowing down crypto growth. Meanwhile, a Trump win could bring a looser regulatory stance, possibly spurring Bitcoin's rise despite his personal dislike for it. As the U.S. prepares to choose its next leader, Bitcoin investors are left wondering: which path will shape crypto's destiny? 📈Which side you pick? Bull or Bear SL1 ---> Low-risk status: 3x-4x Leverage SL2 ---> Mid-risk status: 5x-8x Leverage (If there is just one SL on the chart, I suggest, low risk status) 👾Note: The setup is active but expect the uncertain phase as well. Also movement lines drawn to predict future price reactions are relative and approximate. ➡️Entry Area: Yellow zone ⚡️TP: 74,320 80,750 89,423 🔴SL: 54,384 🧐The Alternate scenario: If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.
Long
by CrazyS
7
ETHUSD Trade LogTrade Setup (2/11/2024) - ETH Short in 4H FVG 1. Setup: Enter a short position within the 4-hour Fair Value Gap (FVG), using this area as a potential resistance zone for a bearish move. 2. Entry strategy: - Target: 1:2 RRR. - Risk: 1% of account. - Entry confirmation: Wait for the price to move into the 4H FVG and show bearish signals, such as a reversal pattern or rejection wick, before entering. 3. Stop-loss and take-profit: - Place stop-loss above the upper boundary of the 4H FVG to protect against an unexpected breakout. - Set take-profit at twice the stop-loss distance to achieve a 1:2 RRR. 4. Additional considerations: - Monitor for market events or news that could impact ETH volatility. - Ensure that price action aligns with bearish signals within the FVG for a higher probability of success.
COINBASE:ETHUSDShort
by Fondera-Trading
BTCUSD Trade LogTrade Setup (2/11/2024) - BTC Short in 4H FVG 1. Setup: Enter a short position at the 0.5 level within the 4-hour Fair Value Gap (FVG), identifying this as a potential resistance area for a bearish move. 2. Entry strategy: - Target: 1:3 RRR. - Risk: 1% of account. - Entry confirmation: Wait for the price to reach the 0.5 level of the 4H FVG and observe bearish signals, such as a reversal candle or rejection wick, before entering. 3. Stop-loss and take-profit: - Place stop-loss above the upper boundary of the 4H FVG to limit risk. - Set take-profit at three times the stop-loss distance to maintain a 1:3 RRR. 4. Additional considerations: - Be aware of any upcoming macroeconomic news or events that could affect BTC's price movement and increase volatility. - Ensure that price action confirms your bias within the FVG to avoid premature entry.
Short
by Fondera-Trading
ETHUSD Trade LogTrade Setup (2/11/2024) - ETH Short in 4H FVG 1. Setup: Enter a short position within the 4-hour Fair Value Gap (FVG), using this area as a potential resistance zone for a bearish move. 2. Entry strategy: - Target: 1:2 RRR. - Risk: 1% of account. - Entry confirmation: Wait for the price to move into the 4H FVG and show bearish signals, such as a reversal pattern or rejection wick, before entering. 3. Stop-loss and take-profit: - Place stop-loss above the upper boundary of the 4H FVG to protect against an unexpected breakout. - Set take-profit at twice the stop-loss distance to achieve a 1:2 RRR. 4. Additional considerations: - Monitor for market events or news that could impact ETH volatility. - Ensure that price action aligns with bearish signals within the FVG for a higher probability of success.
COINBASE:ETHUSDShort
by Fondera-Trading
POPCAT/USDT Price Analysis: Potential Rally Setup if Key SupportThis chart for the POPCAT/USDT trading pair on the 1-hour timeframe illustrates a potential bullish setup if the price undergoes a correction to a critical support level. Following a recent upward movement, the price is now in a retracement phase. The green demand zone, located around the $1.41-$1.43 range, suggests a strong support area where buyers may step in, potentially reversing the current downtrend. The level marked at $1.4158 acts as a key price point to watch for a bounce, aligning with a potential buy zone. The chart's path projection shows that if the price respects this demand zone and holds above $1.4158, it could signal the start of a new upward trend. The next major resistance level is near $1.60, with an extended target around $1.6111, where sellers may exert pressure again. The moving average is also sloping downwards, indicating that the price needs to establish a base above the demand zone to confirm the start of an uptrend. Traders might consider waiting for bullish confirmation, such as a strong reversal candle or increased volume, around the support zone. A successful bounce from this zone could lead to significant gains, making this an area of interest for both short-term and long-term traders aiming to capitalize on the next rally.
Long
by bullanceprime
ALGO/USDT Prime Buy Opportunity Strong Rebound PotentialThe cryptocurrency pair ALGO/USDT has shown significant signs of potential upward momentum, making it an intriguing opportunity for buyers in the medium term. Currently priced at 0.11975, ALGO appears to be forming a strong support level at this price range after a series of corrective moves. Several technical indicators signal a promising scenario for a price rebound. The Relative Strength Index (RSI) is hovering in the oversold territory, suggesting that selling pressure may be diminishing, which often precedes a reversal or a bounce-back in price. Furthermore, the Moving Average Convergence Divergence (MACD) has shown signs of bullish divergence on the daily chart, with the MACD line nearing a crossover above the signal line. This movement hints at a potential change in momentum from bearish to bullish. In addition, ALGO's price is nearing the lower Bollinger Band, which typically acts as a support level, indicating that it could be undervalued at the current price. Volume analysis further strengthens this outlook; there has been a gradual increase in buying volume, suggesting that traders are beginning to accumulate positions at these low levels. This could lead to an upward move as the market digests this accumulation phase. Given these indicators, the current pullback may be a compelling entry point for long-term buyers looking to capitalize on a medium-term upward trend. Investors might consider this price level a buying opportunity, with expectations for a strong bullish movement as ALGO/USDT gains momentum.
Long
by SafeCryptoSignals
Let the Market Calm Down a Bit After Elections I guess you saw the many forex pairs and other assets quite impulsively reacted to the polls this night. The best strategy to follow after such movements is to let the market calm down and find the balance. Quite often, the first reaction is always driven by emotions and overestimate a real short-term and mid-term impacts. For that reason, be patient for now and do not rush trading. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
You can buy it here.. Its fineOMXCOP:VWS Recent pullback is a fine buying opportunity. Maybe we bottomed and break the downtrend now, Maybe we have a leg lower to ~120 - a chance to back up the truck. In any case this one will AT LEAST double in value over the next 3 years. Europe will make a lot of windmills in the next 3 years, it is vital for the future of European energy independence, so if you believe there is a future - then this is a good company to build a position in this winter. Cheers.
OMXCOP:VWSLong
by PotatoJuice99
4
Hedging Price Risk in Silver in a Pivotal Week This is a big week for financial markets, a long-anticipated election in the US is likely to have widely varying impacts across major asset classes. Safe haven assets such as silver stand to benefit from the uncertainty. There is also an FOMC meeting scheduled on 7/Nov (Thu) where the Fed is widely expected to cut rates by 25 basis points. A lower rate environment also serves as tailwind for silver. Finally, the Chinese parliament is expected to announce details of fiscal stimulus on 8/Nov (Fri). Fiscal stimulus in China also stands to benefit silver through higher investment demand as well as industrial demand. In what should fundamentally be a strong week for silver, prices have entered the week on a bearish note following a 3.4% decline last week. While fundamental outlook for Silver remains bullish, this eventful week may drive unwanted volatility. Indeed markets are expecting large moves in silver prices with silver options IV near a 1-year high. Source: CME Group CVOL Investors can strategically deploy CME silver weekly options along with a long position in silver to capitalize on the fundamental increase while remaining protected against volatility. BULLISH FUNDAMENTAL OUTLOOK FOR SILVER Mint Finance covered some of silver’s bullish fundamental drivers in a previous paper . In brief, robust growth from the photovoltaic (PV) sector is driving high demand. PV installations are surging, with global solar installations up 29% year-over-year, driven by aggressive climate policies and energy transition goals. This increase has directly boosted silver consumption, essential for PV production. At the same time, silver markets have stayed in a supply deficit for the past four years. Silver miners have struggled to keep pace with the rapidly increasing industrial demand. China’s massive stimulus package—its largest since the pandemic—also plays a crucial role, freeing up liquidity to revitalize its struggling economy. This stimulus supports sectors like PV and electronics, key industries for silver usage, while bolstering consumer confidence, which translates into heightened demand for silver in electronics and jewellery. Investment demand for silver has started to pick up pace. Since July, U.S.-listed silver ETFs have seen over $942 million in inflows, particularly after the Fed’s rate cuts, which makes non-yielding assets like silver more attractive. HIGHER SILVER JEWELLERY DEMAND IN INDIA The recent festival season in India saw high demand for silver as buyers opted for it over gold. Silver sales by volume are expected to have increased 30-35% YoY while gold sales fell by 15% according to data from the Indian Bullion & Jewellers Association. Rising investor interest in silver is partly due to its relative affordability compared to gold, which is trading at an all-time high. While high gold prices are dampening demand, especially for physical gold and jewellery, silver remains more accessible, supporting increased investment. Rising investment demand, particularly for jewellery, risks pushing silver further into deficit. While jewellery demand for silver had been modest in recent years, 2022 saw a significant increase. According to the Silver Institute, jewellery demand is projected to grow by 4% in 2024 (but below 2022 levels), with actual demand potentially exceeding this due to the strong seasonal trend. Increased demand would further tighten silver supplies, likely driving prices higher over the next year. UPCOMING FOMC MEETING AND CHINA STIMULUS TO DRIVE SENTIMENT China’s parliament has started it five-day meeting on 4/Nov (Mon) and is expected to announce the details of the fiscal support on 8/Nov (Fri). Analysts suggest the fiscal plan could reach 10 trillion yuan ($1.4 trillion), with most funds likely allocated to refinancing local government debt. A substantial fiscal stimulus plan is likely to support silver prices. Recent economic data from China has also shown a recovering industrial sector as China’s manufacturing PMI rose from 49.8 to 50.1 in Oct as the manufacturing sector shifted into expansion after 5 months of contraction. In case the trend continues, stronger industrial demand also stands to push silver prices higher. SILVER IN THE MIDST OF CORRECTION DURING UPTREND Silver continued its bullish momentum from September into October but has corrected sharply over the past week. During the rally earlier this year, when silver prices corrected, they were able to find support at the 38.2% and 61.8% Fibonacci levels. With Silver presently just above the 38.2% level, it may find support here. Silver’s performance in the past two months has closely aligned with monthly pivot points. In both September and October, prices tested these pivot levels before moving higher. However, recent tests have shown smaller deviations from the pivot compared to prior months, suggesting that volatility could push prices slightly lower during this month’s test. There is strong reason to believe that the general bullish trend is likely to continue into next year. According to a poll at the LBMA precious metal conference, delegates expect silver prices to rise to USD 45/oz over 2025, reflecting a 37% increase from present levels. Precious metal analysts were highly optimistic about silver, stating that higher industrial demand combined with continued supply deficit was likely to drive strong gains. SEASONALITY SUGGESTS POTENTIAL FOR LARGE GAINS IN NOVEMBER Silver prices closed out October with a 4.6% increase but are currently nearly flat for November. Historically, November has been a mixed month for silver, with an average price increase of 1.88% since 2000, though with high standard deviation. Notably, only 42% of Novembers have shown positive gains. Despite this variability, past performance shows periods where silver either consistently declined or consistently rallied over multiple Novembers. Over the last two years, November has seen significant growth in silver prices; if this recent trend persists, silver could experience strong gains this month. SILVER’S PERFORMANCE AROUND ELECTIONS Certain safe haven and risk assets (gold, silver, BTC) stand to benefit from a Trump presidency. Historically, elections have impacted silver prices in varying ways. Following the Trump victory, silver stands to benefit. Looking at silver’s historical performance in the two weeks following elections since 1980, prices increased by an average of 0.7% when a Republican replaced a Democrat president. The Democrat-to-Republican shift has led to price rallies in two-thirds of cases. SILVER’S PERFORMANCE AROUND FOMC MEETINGS As mentioned, lower rates have a positive impact on non-yielding investment assets such as silver while also boosting industrial demand during periods with loose monetary policy. During the Fed easing cycles in 2001, 2007, and 2019, silver reacted positively to Fed rate cuts in 68% of cases (performance measured 1 week after FOMC meeting with monetary easing) with an average of 0.9% appreciation on the CME Silver front month contract. Source: CME FedWatch CME FedWatch tool is suggesting that a 25-basis point rate cut is most likely at the upcoming meeting on 7/Nov with a probability of 98%. As the outcome is largely anticipated, the impact of the meeting on silver prices may be minimal. HYPOTHETICAL TRADE SETUP Silver remains bullish with strong fundamental drivers including the rapid growth in the PV industry and strong investment demand. This week, several major events are expected to drive significant volatility in the silver market. While these events are generally anticipated to boost silver demand, prices may remain unstable and could see short-term declines. Silver is currently trading near its support levels, but increased event-driven volatility this week could lead to significant price swings. In late October, for example, silver briefly surged nearly 4% above usual resistance levels during short bursts of volatility. Although trading volume remained concentrated near the support level, the risk of sudden, sharp moves remains. This could result in a long silver position being prematurely closed out. With a long position in silver futures at risk from near-term event risks, investors can deploy CME weekly options to hedge a long position from near-term volatility which increases tail risk. In the following hypothetical trade setup, investors can combine a long position in CME micro silver futures expiring in December (SILZ4) at an entry of 32 with a protective put using CME silver weekly options expiring on 8/Nov (Fri) (SO2X4) at a strike level of 31 (delta 20, premium of 0.087/oz or USD 435) offers a compelling trade setup while remaining hedged against near-term volatility. Using a delta-20 put option keeps the position fully delta-hedged for the week, as the delta of the long micro silver position aligns with the option’s delta at 20. Since each micro silver contract is one-fifth the size of a full contract, this setup effectively maintains the hedge. In case prices dip below 30.64 by Friday due to volatility from the election, FOMC meeting, and China parliamentary meeting, the put option would offset any losses from the futures leg. In the later part of the month, the outlook for silver is likely to be bullish given the fundamental factors highlighted above, in case prices rise, the position would become profitable above 32.44, offsetting the premium paid for the short-term option. The scenarios in which the position loses: 1) In case prices remain between 30.64 and 32.44 2) In case prices fall below 30.64 following the put option expiry on 8/Nov The scenarios in which the position profits: 1) In case prices fall below 30.64 before the put option expiry on 8/Nov 2) In case prices rise above 32.44 at any point It should be noted that it would be prudent to set a stop loss on the long futures position following options expiry at 31 to minimize losses in case of a decline after options expiry. MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme . DISCLAIMER This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services. Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. Please read the FULL DISCLAIMER the link to which is provided in our profile description.
COMEX_MINI:SIL1!Long
by mintdotfinance
How would the market react to a Trump or Kamala victory?In recent days, the financial markets have exhibited increased sluggishness as investors await the outcome of the US elections. Kamala Harris and Donald Trump represent two starkly contrasting visions for the future of the United States. This article will explore the potential effects each candidate could have on key financial assets, including Oil, Gold, Bitcoin, the S&P 500, and EUR/USD. Oil (Brent) If Kamala Harris secures victory in the election, it is likely that her administration will prioritise renewable energy initiatives and stricter environmental regulations, potentially curtailing the use of fossil fuels. This shift could lead to limitations on oil production and a subsequent decrease in supply. With global demand expected to remain stable, this scenario may initially drive Oil prices higher. Conversely, a win for Donald Trump could result in a relaxation of environmental regulations and an incentive to boost domestic oil production. This approach, often articulated by Trump, may increase US supply available for both domestic consumption and export, potentially leading to lower prices, depending on global demand. Trump's administration might also adopt more aggressive policies towards OPEC, adding to market volatility. Gold (XAU/USD) Kamala Harris is likely to support expansionary fiscal policies, including increased spending on social programs and infrastructure projects. This rise in expenditure may lead to a higher federal deficit, contributing to inflationary pressures and prompting the Federal Reserve (FED) to consider raising interest rates to manage inflation. Higher interest rates could initially weigh on Gold prices, as investors might seek the better yields offered by government bonds. However, ongoing support for international conflicts, such as in Ukraine and Israel, could sustain geopolitical uncertainty, which typically favours Gold as a safe-haven asset. Under a Trump administration, fiscal policies may shift towards tax cuts and reductions in welfare programs. Such cuts could depress government spending and lower aggregate demand, potentially leading to a decrease in inflation and creating room for possible interest rate cuts. Reduced interest rates might drive investors towards equities for better returns or prompt them to seek refuge in Gold during market turmoil. Moreover, Trump's focus on domestic security and diminished global involvement could exacerbate existing conflicts, further elevating Gold prices in the short term. Bitcoin (BTC/USD) Kamala Harris has yet to articulate a definitive stance on cryptocurrencies, but the Democratic platform generally leans toward increased regulation. A stricter regulatory environment could deter institutional investment in Bitcoin, potentially exerting downward pressure on its price in the event of a Harris victory. In contrast, Donald Trump has displayed a growing enthusiasm for cryptocurrencies during his campaign, which could catalyse an initial price appreciation for Bitcoin. Additionally, his rapport with Elon Musk, a prominent Bitcoin advocate, strengthens the case for potential gains in BTC should Trump win. S&P 500 Should Kamala Harris assume office, her administration is likely to continue implementing economic stimulus measures, which could bolster the S&P 500, particularly in the green technology and renewable energy sectors. However, tighter regulations on oil and finance industries might adversely impact certain sectors. Therefore, a moderate appreciation of the S&P 500 is plausible, especially if fiscal stimulus supports domestic consumption. On the other hand, a Donald Trump victory could propel the S&P 500 into a strong upward trend, driven by corporate tax cuts and a less interventive regulatory environment. The financial markets tend to react favourably to tax reductions and deregulation, and a decrease in government expenditure could lower inflation in the short term, providing the Fed with room to reduce interest rates. This scenario could enhance credit access and stimulate domestic consumption, benefiting both corporations and the S&P 500. EUR/USD A Kamala Harris presidency may adopt a more cooperative and diplomatic approach to international relations, particularly with the European Union. This stance could strengthen the euro, potentially driving the EUR/USD pair higher due to improved trade relations. Furthermore, robust spending policies might weaken the US dollar, increasing demand for the euro. Conversely, if Donald Trump wins the election, the euro could depreciate against the dollar as his protectionist and aggressive trade policies tend to favour the dollar in the immediate term. Trump's "Make America Great Again" slogan underscores his commitment to bolstering domestic trade and the dollar. Consequently, any policy that negatively impacts trade with the EU, such as tariffs or aggressive trade measures, could further weaken the euro while benefiting the USD. Preparing for Diverse Market Outcomes In conclusion, whether Kamala Harris or Donald Trump emerges victorious could result in markedly different consequences for the financial markets. It is crucial to recognise that the market is likely to wait and observe which policies will be implemented in practice. The repercussions of the US elections may resonate for months ahead as market participants acclimatise to this new reality. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
MARKETSCOM:BITCOIN
by Marketscom
Trading minute impulseOn the minute timeframe of XAUUSD at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
FXOPEN:XAUUSDShort
by syomking76418
NQ - Nasdaq struggles. The weekly reveals itSee the support NQ had? Super nice how the the Medianlines and the A/R set reveals it. But now there is some trouble in the Kitchen. After reaching the white Center-Line, price is struggling to punch through the orange U-MLH. If price can't fight ti's way through this resistance, it will turn south - probably very sharp. To me, this is a cheap Short. If I'm wrong, so be it, it's just one of 1000s of trades. But, it's a offer I can't reject §8-)
CME_MINI:NQ1!Short
by Tr8dingN3rd
CADCHF - Long Trade IdeaThis is a long idea on CADCHF. Not a pair I trade, but just an intraday analysis for fun. As a target, looking at the equal highs above. Entering on the orderflow on the hourly timeframes. Only issue is this is still at premium of the range, so although price has been quite efficient on the way up, i'm curious if price will come to discount regardless before heading up.. if it even heads up in the first place. Entering off the CS +OB 7h framework. SL below the wick into the 11h BISI. Target is BSL DOL. - R2F
Long
by Road_2_Funded
2
AUDCHF: CHF Devaluation Amid SNB Report: Short-Term Trend ShiftSwiss Franc Devaluation Amid SNB Report: Short-Term Trend Shift Today, the Swiss National Bank (SNB) reported a decline in two of its main indicators, leading to a short-term devaluation of the Swiss Franc (CHF). This movement also indicates a change in the short-term trend. Swiss October CPI +0.6% vs +0.8% y/y expected Swiss October retail sales 2.2% vs. 2.5% y/y expected Technical Analysis: AUDCHF has completed a bullish wedge pattern, positioning the price for a bullish wave. The volume may increase today or in the coming days. I expect AUDCHF to rise to the targets shown on the chart: Targets: 🎯 0.5720 🎯 0.5755 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
12
XAU! 11/6! Gold price down - soon to $2700XAU / USD trend forecast November 6, 2024 Gold price (XAU/USD) struggles to build on Tuesday's rebound from the $2,725-2,724 region, hovering between small gains and losses in Wednesday's Asian session. Rising demand for the US Dollar, fueled by exit polls showing Donald Trump leading in key swing states, poses a challenge for gold. Additionally, a strong rise in US Treasury yields and a risk-on market mood put further pressure on the non-yielding metal. However, expectations of heightened volatility around the US election results prevent traders from taking strong bearish positions, which should help contain any significant downside for gold. After clearing the liquidity of the 2748-2750 price range, the gold price is still moving in the 2730-2745 price range. The election results will create a positive and optimistic financial market. The gold price cools down - drops to 2700 /// SELL XAU : zone 2742-2745 SL: 2750 TP: 50 - 150 - 300 pips (2715) Safe and profitable trading
OANDA:XAUUSDShort
by Moon-ForexAcademy
9