BUY Opportunity on XAUUSD Still Exists! Correction Held at the UP TRENDLINE Area ~ 90% Rebate Exness Everyday

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BUY Opportunity on XAUUSD Still Exists! Correction Held at the UP TRENDLINE Area

XAUUSD Analysis

Correction Due to Profit Taking and USD Strength

Gold prices have corrected by more than 1% after hitting a new high yesterday. This correction is driven by profit-taking and the strengthening of the USD, supported by the rise in US Treasury yields. However, uncertainty surrounding the US presidential election and ongoing geopolitical tensions in the Middle East are preventing further declines in gold prices for now.

Held at the Up Trendline Area

The gold price correction is being held at the up trendline area, as seen on the H1 time frame. A buy opportunity can be considered again, especially if the price manages to rise back above this up trendline area.

Prediction: STRONG XAUUSD

Trade Plan:

BUY AREA: 2713.11 - 2721.92
Stop Loss (SL): 2701.19
Take Profit (TP1): 2734.27
Take Profit (TP2): 2749.60
Take Profit (TP3): 2765.67