XAU ! 9/10 ! The uptrend continues.
XAU / USD trend forecast September 10, 2024
Gold (XAU/USD) is exchanging hands above $2,500 on Tuesday, sticking within its familiar range of the last few weeks as traders assess the outlook for monetary policy and the future path of interest rates in the US, a key performance indicator for Gold.
Recent mixed US jobs’ data brought into doubt market expectations of the Federal Reserve (Fed) making an above-standard 0.50% (50 bps) cut to its fed funds rate at the September 18 meeting. This, in turn, had a negative impact on Gold, which tends to appreciate the more interest rates fall because that increases its attractiveness to investors as a non-interest paying asset.
Based on M30, resistance and EMA 200 line, TRENDLINE to set up SELL signal
/// SELL XAU : zone 2520-2523
SL: 2528
TP: 50 - 150 - 200 pips (2503)
Safe and profitable trading
Gold (XAU/USD) is exchanging hands above $2,500 on Tuesday, sticking within its familiar range of the last few weeks as traders assess the outlook for monetary policy and the future path of interest rates in the US, a key performance indicator for Gold.
Recent mixed US jobs’ data brought into doubt market expectations of the Federal Reserve (Fed) making an above-standard 0.50% (50 bps) cut to its fed funds rate at the September 18 meeting. This, in turn, had a negative impact on Gold, which tends to appreciate the more interest rates fall because that increases its attractiveness to investors as a non-interest paying asset.
Based on M30, resistance and EMA 200 line, TRENDLINE to set up SELL signal
/// SELL XAU : zone 2520-2523
SL: 2528
TP: 50 - 150 - 200 pips (2503)
Safe and profitable trading
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