Gold recovers - touch TREND H2 - SELL NOW

11 thg 10, 2024

XAU / USD trend forecast October 11, 2024

Gold price (XAU/USD) pulls back slightly from a three-day high, trading around $2,640 in early European trading on Friday, though still up over 0.40%. A rise in US jobless claims indicated labor market weakness, allowing the Federal Reserve to continue cutting rates. This led to a slight drop in US Treasury yields and a softer risk tone, helping gold gain for a second day.

However, stronger-than-expected US inflation data reduced the chances of another large Fed rate cut in November, supporting the US Dollar and limiting gold's gains. Traders now await the US PPI, Michigan Consumer Sentiment, and Fedspeak for further direction.

Gold recovered - broke the downtrend H1. However, the larger frame H2 - H4 still shows that the correction is still continuing. While the market psychology is worried that there will be no further interest rate cut in November.

/// SELL XAU : zone 2652-2655

SL: 2660

TP: 50 - 100 - 300 pips (2625)


Safe and profitable trading

11 thg 10, 2024

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Gold price growth hits trend H2 2653 - waiting for XAU correction