GOLD MULTITIMEFRAME ANALYSIS FORECAST
GOLD FORECAST FOR NEXT WEEK
You can download the multi timeframe analysis in the link below
RECAPS
- Daily : Bearish
- 4H : Bearish
- 1H : Bearish
- 15m : Consolidation
Gold seems to have bearish continuation from last bloody Thursday, Nov 31.
Although last NFP data came in significantly drop below expectation with only 12k jobs added compared to the previous month 223k, this weak data couldn't support gold to continue bullish.
Last thursday news indicating that US economy is resilient, with drop of Jobless claims and raise in ADP. We might see a high volatility in the market for the upcoming week since there are 2 big agendas; US Election on Nov 5 and FOMC Nov 7.
If the Fed decide to pause the interest rate cut, we might see huge correction for Gold. Right now, traders still expecting 25bps cut.
Daily candle closed bearish with a long wick and multiple rejection at $2760.
FORECAST
1. Consolidation at $2735 and directly going down to seek sellside liquidity.
2. Bullish correction toward POI and then continue impulsive movement to the downside.
3. If there is impulsive movement to the upside, look for buy opportunity. Gold may reach price level of $2760 - $2770 again.
XAUUSD
You can download the multi timeframe analysis in the link below
RECAPS
- Daily : Bearish
- 4H : Bearish
- 1H : Bearish
- 15m : Consolidation
Gold seems to have bearish continuation from last bloody Thursday, Nov 31.
Although last NFP data came in significantly drop below expectation with only 12k jobs added compared to the previous month 223k, this weak data couldn't support gold to continue bullish.
Last thursday news indicating that US economy is resilient, with drop of Jobless claims and raise in ADP. We might see a high volatility in the market for the upcoming week since there are 2 big agendas; US Election on Nov 5 and FOMC Nov 7.
If the Fed decide to pause the interest rate cut, we might see huge correction for Gold. Right now, traders still expecting 25bps cut.
Daily candle closed bearish with a long wick and multiple rejection at $2760.
FORECAST
1. Consolidation at $2735 and directly going down to seek sellside liquidity.
2. Bullish correction toward POI and then continue impulsive movement to the downside.
3. If there is impulsive movement to the upside, look for buy opportunity. Gold may reach price level of $2760 - $2770 again.
XAUUSD 
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