XAU break trend - downtrend to 2605 area

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XAU / USD trend forecast December 2, 2024

Gold price (XAU/USD) dips to approximately $2,645 in the early Asian session on Monday, pressured by a recovering US Dollar. However, ongoing geopolitical tensions may limit further losses for the precious metal.

In November, Gold experienced a 3% decline, marking its steepest monthly drop since September 2023. Donald Trump's victory in the US Presidential election heightened expectations that the Federal Reserve (Fed) would take a more cautious stance on additional rate cuts, strengthening the US Dollar and weighing on the USD-denominated Gold.

H2 frame shows gold price breaking downtrend - will move towards lower price zones 2605

/// BUY XAU : zone 2607-2604

SL: 2599

TP: 50 - 150 - 300pips (2634)


Safe and profitable trading

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تم فتح الصفقة

Gold price recovered above 2640 - still a cumulative sideway price zone

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أغلقت الصفقة: تم الوصول للهدف

Gold recovery above 2640 - causing the price range 2605-2688 to continue to accumulate