XAUUSD Analysis
Market Awaits U.S. Presidential Election Results
Gold prices are tending to move flat and under pressure as the market awaits today’s results from the U.S. presidential election. Additionally, the market is anticipating a potential rate cut by the Federal Reserve this week.
Still Under Pressure
The price is trending downwards on the H1 timeframe, indicating that today’s intraday bias remains bearish.
Forecast: WEAK XAUUSD
Trade Plan:
- SELL Zone: 2733.99 - 2746.41
- Stop Loss (SL): 2765.43
- Take Profit (TP) Targets:
- TP1: 2716.87
- TP2: 2692.08
- TP3: 2666.90