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XAUUSD Could Continue SELL: Pullback Fails to Break Above Trendline


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
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XAUUSD Potential SELL: TRENDLINE BREAK, Bearish Wedge in Play!

 


XAUUSD Analysis

Market Awaits US NFP Data

Gold prices experienced a significant correction following improved US ADP non-farm employment change data and declining jobless claims. There’s now anticipation that the upcoming US non-farm payrolls data may not be as weak as initially expected.

Potential Bearish Rising Wedge Pattern 

Gold appears to be forming a bearish rising wedge pattern after breaking below the uptrend line on the H1 time frame. A Sell opportunity could arise if this pattern is confirmed.

Forecast: WEAK XAUUSD

Trade Plan:

  • Sell Zone: 2723.59 - 2736.42
  • Stop Loss (SL): 2756.84
  • Take Profit (TP) Levels:
    • TP1: 2707.57
    • TP2: 2680.99
    • TP3: 2653.47
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Seeking Further BUY on XAUUSD: Potential Ascending Triangle Formation, Possible to Break ATH!

 


XAUUSD Analysis

Weakened US Economic Growth Report

The latest Q3 economic growth report from the US fell short of expectations, causing a slight USD weakening that continues to support gold’s rally towards an all-time high. Additionally, the uncertainty ahead of the US elections and ongoing conflicts in the Middle East add to the momentum.

Potential Ascending Triangle

Gold prices are forming a potential ascending triangle pattern on the H1 time frame. A BUY opportunity exists, targeting a pullback first before a potential breakout from the ascending triangle.

Prediction: STRONG XAUUSD

Trade Plan:

  • BUY Area: 2778.34 - 2784.08
  • Stop Loss (SL): 2770.58
  • Take Profit (TP1): 2791.33
  • Take Profit (TP2): 2799.94
  • Take Profit (TP3): 2809.89
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Look for Another BUY Opportunity on XAUUSD! GAS ALL TIME HIGH AGAIN!

 


XAUUSD Analysis 

Still Influenced by U.S. Presidential Election and Middle East Issues

Gold prices have surged to an all-time high amid rising uncertainties surrounding the U.S. presidential election race and ongoing conflicts in the Middle East.

Support Area as a Key Reference

Gold is testing the uptrend line area, as seen on the H1 timeframe. Buy opportunities may arise in this uptrend line area.

Forecast: STRONG XAUUSD

Trade Plan:

  • BUY AREA: 2766.73 - 2751.92
  • SL: 2736.78
  • TP1: 2780.85
  • TP2: 2803.12
  • TP3: 2824.60
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HOT BUY Opportunity for XAUUSD! SYMMETRICAL TRIANGLE Pattern Spotted!

XAUUSD Analysis

US Presidential Election Still Influencing the Market

Gold prices are once again nearing all-time highs, fueled by uncertainties surrounding the U.S. presidential election. Additionally, the market awaits crucial data to help predict the Federal Reserve’s interest rate direction.

Symmetrical Triangle Pattern

Gold appears to be testing the uptrend line area, as seen on the H1 timeframe. Buying opportunities can be found near this uptrend line.

Forecast: STRONG XAUUSD

Trade Plan:

  • BUY AREA: 2749.54 - 2739.20
  • SL: 2722.46
  • TP1: 2766.38
  • TP2: 2788.16
  • TP3: 2809.66
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Check Now: BUY Opportunity on XAUUSD! Correction Held Again at the UP TRENDLINE Area!

 


XAUUSD Analysis

Uncertainty in the U.S. Presidential Election Impacts Prices

Gold prices have resumed an upward trend after a slight correction due to profit-taking. This strengthening is influenced by uncertainties surrounding the upcoming U.S. presidential election, along with ongoing tensions in the Middle East.

Testing the Up Trendline Area

Gold is currently testing the up trendline area as seen on the H1 timeframe, presenting a potential buy opportunity around this level.

Forecast: STRONG XAUUSD

Trade Plan:

  • BUY AREA: 2726.42 - 2740.74
  • Stop Loss (SL): 2713.93
  • Take Profit (TP) Levels:
    • TP1: 2753.36
    • TP2: 2772.70
    • TP3: 2792.05
Share:
 Algeria ● Angola ● Antigua and Barbuda ● Argentina ● Armenia ● Aruba ● Azerbaijan ● Bahrain ● Bangladesh ● Belize ● Benin ● Bhutan ● Bolivia ● Botswana ● Brazil ● Brunei ● Burkina Faso ● Burundi ● Cambodia ● Cameroon ● Cape Verde ● Chad ● Chile ● China ● Colombia ● Comoros ● Costa Rica ● Djibouti ● Dominica ● Dominican Republic ● East Timor ● Ecuador ● Egypt ● El Salvador ● Equatorial Guinea ● Eritrea ● Ethiopia ● Gabon ● Gambia ● Georgia ● Ghana ● Grenada ● Guatemala ● Guernsey ● Guinea ● GuineaBissau ● Guyana ● Honduras ● Hong Kong ● India ● Indonesia ● Isle of Man ● Jamaica ● Japan ● Jersey ● Jordan ● Kazakhstan ● Kenya ● Kuwait ● Kyrgyzstan ● Laos ● Lebanon ● Lesotho ● Liberia ● Libya ● Macau ● Madagascar ● Malawi ● Maldives ● Mauritania ● Mexico ● Moldova ● Mongolia ● Montenegro ● Montserrat ● Morocco ● Mozambique ● Namibia ● Nauru ● Nepal ● Niger ● Nigeria ● Oman ● Pakistan ● Panama ● Papua New Guinea ● Paraguay ● Peru ● Philippines ● Qatar ● Republic of the Congo ● Rwanda ● Saint Kitts and Nevis ● Saint Lucia ● Sao Tome and Principe ● Saudi Arabia ● Senegal ● Serbia ● Sierra Leone ● Solomon Islands ● South Africa ● Sri Lanka ● Suriname ● Swaziland ● Taiwan ● Tajikistan ● Tanzania ● Thailand ● Togo ● Tonga ● Trinidad and Tobago ● Tunisia ● Turkey ● Turkmenistan ● Uganda ● United Arab Emirates ● Uzbekistan ● Venezuela ● Vietnam ● Zambia ● Zimbabwe