XAU / USD trend forecast November 7, 2024
Gold dropped to a three-week low below $2,700 per ounce on Wednesday following the 2024 US Presidential election, with former President Donald Trump’s win strengthening the US Dollar and Treasury yields. XAU/USD saw a decline of over 2.5%, trading around $2,667 at the latest.
Market uncertainty has eased, as Trump’s victory was more decisive than anticipated. Additionally, the Republican party secured majorities in both the Senate and the House of Representatives, completing a “red sweep.”
Gold price dropped sharply to 2644, strong downtrend. Still in the upcoming downtrend, ending the price increase cycle of previous months.
/// SELL XAU : zone 2682-2685
SL: 2690
TP: 50 - 150 - 300 pips (2655)
Safe and profitable trading
Gold dropped to a three-week low below $2,700 per ounce on Wednesday following the 2024 US Presidential election, with former President Donald Trump’s win strengthening the US Dollar and Treasury yields. XAU/USD saw a decline of over 2.5%, trading around $2,667 at the latest.
Market uncertainty has eased, as Trump’s victory was more decisive than anticipated. Additionally, the Republican party secured majorities in both the Senate and the House of Representatives, completing a “red sweep.”
Gold price dropped sharply to 2644, strong downtrend. Still in the upcoming downtrend, ending the price increase cycle of previous months.
/// SELL XAU : zone 2682-2685
SL: 2690
TP: 50 - 150 - 300 pips (2655)
Safe and profitable trading
Trade active
+ 50 pips, profit signal plan day 2682-2685 Order cancelled
2700 became a strong resistance area before the FOMC today - the bulls' effort
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💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
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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.
MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
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.