💡 XAUUSD: Will the downward momentum be maintained?
Actualizado
➡️The global gold market experienced considerable volatility last week, with prices swinging widely. Gold prices steadied at the start of the week as investors awaited key economic data for October. However, precious metal prices surged dramatically after the report revealed a substantial reduction in inflationary pressures. This sparked expectations that the US Federal Reserve (Fed) may have concluded its aggressive monetary tightening cycle. Gold prices rallied close to the crucial $2,000 per ounce threshold, ending a three-week losing streak.
➡️Kitco News' recent weekly gold survey indicates that retail investors remain strongly bullish on gold, while market analysts are more cautious about the precious metal's near-term prospects.
➡️Kitco News' recent weekly gold survey indicates that retail investors remain strongly bullish on gold, while market analysts are more cautious about the precious metal's near-term prospects.
Nota
Operación activa
Gold is returning to peak number 4. It's going exactly as I predictedNota
Gold didn't experience significant fluctuations over the weekend, but there's a noticeable shift in price action. In the short term, the market broke through the previous minor support zone, and on the H1 timeframe, a bearish trend is evident.Nota
Furthermore, the price fell from the resistance zone around 1990, which was a daily resistance zone. And on the H4 frame we see the price forming a pretty nice bearish breakout setup. We can sell with this signal.Nota
This week, the US Federal Reserve (Fed) will release the minutes of its most recent monetary policy meeting. However, experts say that the gold market no longer pays much attention to this minute, because investors are turning their attention to the timing of interest rate cuts. According to the FedWatch Tool, the market appears to be certain that the Fed will leave interest rates unchanged at its December policy meeting and is pricing in at least a 15% chance that rates will remain at 5.25%-5, 5% until June next year.Operación activa
Done SignalNota
HIT 1965Nota
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