XAUUSD Analysis
Gold Declines Alongside Strengthening US Treasury Yields
Gold prices have corrected amid a stronger USD and rising US Treasury yields, despite unexpectedly weak US non-farm payrolls data last Friday. Markets are now focused on the upcoming US presidential election results and the Fed's interest rate decision this week.
Still Below Trendline
The recent pullback failed to bring the price back above the uptrend line that was broken on the H1 timeframe. Therefore, today's intraday bias remains bearish.
Forecast: WEAK XAUUSD
Trade Plan:
- SELL AREA: 2733.99 - 2746.41
- SL: 2765.43
- TP1: 2716.87
- TP2: 2692.08
- TP3: 2666.90