XAU/USD: Upward Trend Expected in Q4 2024!
Updated
🔥 Key Points:
✅ Resistance tested 7 times: 2528-2531
✅ Support tested 3 times: 2472-2470
A critical price zone awaits at the end of 2024, which could define the future trend for gold.
🔥 7 resistance tests suggest buyers hold the majority, but the level hasn't been broken. FrankFx believes this is due to large funds and country coordination adjusting prices to reach an all-time high (ATH) at a more favorable time (e.g., September rate cuts, November U.S. presidential election).
🔥 H4 technical frame supports a strong uptrend.
🦋 The combination of technicals, economic, and political factors will shape the trend and timing.
----------
New ATH targets: 2560 - 2590 - 2650
----------
⭐️ NOTE:
FrankFx advises traders to manage their capital well:
- Trade lot sizes appropriate for your capital.
- Take profit: 4-6% of your account.
- Stop loss: 2-3% of your account.
- The true winners are those who stay in the market the longest.
Trade active
Gold prices are rising—anticipate major FOMO ahead of next week's FOMC meeting. Positive outlook for gold.
✅JOIN FREE SIGNAL TELEGRAM:
t.me/frankfxforextrade
✅CONTACT:
t.me/Frankfx22
Exness✅
frankfxx.com/exness
ICMarkets✅
frankfxx.com/icmarkets
XM✅
frankfxx.com/xm
Website:frankfxx.com
t.me/frankfxforextrade
✅CONTACT:
t.me/Frankfx22
Exness✅
frankfxx.com/exness
ICMarkets✅
frankfxx.com/icmarkets
XM✅
frankfxx.com/xm
Website:frankfxx.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.