XAU ! Nov 18 ! Short recovery 2614

2024年11月18日

XAU / USD trend forecast November 18, 2024

Traders reduced their expectations for rate cuts in December after Fed Chair Jerome Powell stated that the US central bank was in no hurry to lower rates, citing the "remarkably strong" performance of the economy. Elevated interest rates tend to weigh on Gold prices, as they make non-yielding assets like gold less attractive.

Conversely, escalating geopolitical tensions in the Middle East and the ongoing conflict between Ukraine and Russia could support safe-haven demand, bolstering the yellow metal. According to Reuters, President Joe Biden's administration has authorized Ukraine to use US weaponry for strikes inside Russia, marking a significant shift in Washington's policy regarding the Ukraine-Russia conflict

Short-term recovery - liquidity sweep of resistance zone 2597 - 2614. Downtrend still dominates long-term

/// SELL XAU : zone 2614-2617

SL: 2622

TP: 50 - 100 - 200pips (2597)


Safe and profitable trading

2024年11月18日

交易進行

Gold increased during the US session Monday - trading around 2610