XAU / USD trend forecast November 18, 2024
Traders reduced their expectations for rate cuts in December after Fed Chair Jerome Powell stated that the US central bank was in no hurry to lower rates, citing the "remarkably strong" performance of the economy. Elevated interest rates tend to weigh on Gold prices, as they make non-yielding assets like gold less attractive.
Conversely, escalating geopolitical tensions in the Middle East and the ongoing conflict between Ukraine and Russia could support safe-haven demand, bolstering the yellow metal. According to Reuters, President Joe Biden's administration has authorized Ukraine to use US weaponry for strikes inside Russia, marking a significant shift in Washington's policy regarding the Ukraine-Russia conflict
Short-term recovery - liquidity sweep of resistance zone 2597 - 2614. Downtrend still dominates long-term
/// SELL XAU : zone 2614-2617
SL: 2622
TP: 50 - 100 - 200pips (2597)
Safe and profitable trading
Traders reduced their expectations for rate cuts in December after Fed Chair Jerome Powell stated that the US central bank was in no hurry to lower rates, citing the "remarkably strong" performance of the economy. Elevated interest rates tend to weigh on Gold prices, as they make non-yielding assets like gold less attractive.
Conversely, escalating geopolitical tensions in the Middle East and the ongoing conflict between Ukraine and Russia could support safe-haven demand, bolstering the yellow metal. According to Reuters, President Joe Biden's administration has authorized Ukraine to use US weaponry for strikes inside Russia, marking a significant shift in Washington's policy regarding the Ukraine-Russia conflict
Short-term recovery - liquidity sweep of resistance zone 2597 - 2614. Downtrend still dominates long-term
/// SELL XAU : zone 2614-2617
SL: 2622
TP: 50 - 100 - 200pips (2597)
Safe and profitable trading
Transaction en cours
Gold increased during the US session Monday - trading around 2610
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💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠My channel:
" t.me/+wmcIWR0hqD5mYjhl "
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠My channel:
" t.me/+wmcIWR0hqD5mYjhl "
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠My channel:
" t.me/+wmcIWR0hqD5mYjhl "
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.