Gold returns to breakout zone 2635, strong support

6 Oca

XAU / USD trend forecast January 6, 2025

Gold prices (XAU/USD) remain under pressure near $2,640 in early Monday trading, weighed down by the strengthened US Dollar (USD) following robust US ISM Manufacturing PMI data. Investors now turn their attention to the US labor market report for December, due Friday, for fresh directional cues.

The Institute for Supply Management (ISM) reported on Friday that US Manufacturing PMI improved to 49.3 in December, surpassing both the previous reading of 48.4 and market expectations. This stronger-than-anticipated data supported the Greenback, putting additional downward pressure on the USD-denominated Gold price.

Gold price adjusted back to breakout zone 2635, waiting for reaction, gold price at the beginning of the week liquidity will not be much

/// BUY XAU : zone 2636-2633

SL: 2628

TP: 50 - 150 - 300pips (2663)


Safe and profitable trading

6 Oca

İşlem aktif

Exactly Uptrend - however, gold price swept liquidity around 2625 then increased sharply to 2648

6 Oca

İşlem kapandı: hedefe ulaştı

Gold price moves quickly and within the range of 2615-2650. Large trading volume