XAU / USD trend forecast October 16, 2024
Gold prices rose on Tuesday as US Treasury yields fell, limiting gains for the US Dollar. The economic calendar included the New York Empire State Manufacturing Index and the NY Fed Consumer Expectations Survey, with XAU/USD trading at $2,664.
The Empire State Manufacturing Index for September showed a weak result, while the NY Fed survey indicated higher inflation expectations for the month.
Gold price surpassed the nearest resistance zone of 2660, approaching the next price zone of 2672. The bulls are dominating, determined to find the old ATH of 2685 this week.
/// SELL XAU : zone 2685-2682
SL: 2690
TP: 50 - 100 - 200 pips (2665)
/// BUY XAU : zone 2653-2650
SL: 2645
TP: 50 - 100 - 200 pips (2670)
Safe and profitable trading
Gold prices rose on Tuesday as US Treasury yields fell, limiting gains for the US Dollar. The economic calendar included the New York Empire State Manufacturing Index and the NY Fed Consumer Expectations Survey, with XAU/USD trading at $2,664.
The Empire State Manufacturing Index for September showed a weak result, while the NY Fed survey indicated higher inflation expectations for the month.
Gold price surpassed the nearest resistance zone of 2660, approaching the next price zone of 2672. The bulls are dominating, determined to find the old ATH of 2685 this week.
/// SELL XAU : zone 2685-2682
SL: 2690
TP: 50 - 100 - 200 pips (2665)
/// BUY XAU : zone 2653-2650
SL: 2645
TP: 50 - 100 - 200 pips (2670)
Safe and profitable trading
Trade active
Sideway gold price in the 2660-2670 Asian wednesday sessionOrder cancelled
Uptrend prevails - wait for the SELL price range 2682-2685Trade active
+ 40 pips from entry sell 2682-2685Trade closed: target reached
Sell 2682-2685 has 60 pips profit , plan day Trade active
+ 100 pips , entry sell 2682-2685 ( resistance ATH ) Trade closed: stop reached
180pips sell signal plan day 2682-2685 Order cancelled
Gold price sustains above 2670 - there are still expectations for a new ATH this week
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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.