Emas Semerta / Dolar A.S.Panjang
GOLD is close to the current level of 2,758 USD
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On Tuesday (October 29) in the Asian market, spot gold suddenly increased sharply in the short term. Gold price just touched 2,757.74 USD/ounce, setting a new intraday high and approaching the previous historical high.
Traders prepare to release key economic data that will help set the tone for the Federal Reserve's next policy decision. Although tensions in the Middle East appear to have cooled, the Uncertainty about the US election still supports gold prices.
The Fed will announce its interest rate decision at its two-day meeting starting November 6. Jobs and inflation data, as well as if the results of the US presidential election are contested, This could influence the Fed's decision.
The market still expects policymakers to cut interest rates by 25bps at their November meeting. Lower borrowing costs are typically positive for gold, which does not yield a yield.
According to CME's FedWatch Tool, the market expects the probability of the Fed cutting interest rates by 25 basis points to be about 98.4%.
When the presidential election between Harris and Trump was still too close, gold had 3 consecutive weeks of increases despite the increase in US Treasury bond yields and the USD, which often puts pressure on precious metals, losing correlation. This describes both gold and USD as having separate supports.
According to the latest statistics from the China Gold Association, China's gold consumption decreased by 11.2% year-on-year in the first three quarters of 2024 as high prices suppressed jewelry demand.
Analysis of technical prospects forXAUUSD
Gold has had 3 consecutive days of increase and is heading for the 4th day of price increase after adjusting and taking support from the short-term price channel and the 1% Fibonacci level.
Currently, gold is close to the all-time peak set previously, once gold breaks the $2,758 level which is also the target increase since gold corrected down from this level, it will have enough room to continue. upside with the next target around 2,768USD in the short term, more than the 2,786USD price points of the Fibonacci 0.382% and 0.50%.
The relative strength index (RSI) is pointing up with no signs of weakness as it approaches the overbought area, suggesting that bullish momentum remains solid, and as long as gold remains within the channel it will continue to trend. short-term upward trend.
However, in case it is sold below 2,700 USD, it will open up expectations for a medium-term correction down cycle with the target at the area of the EMA21 moving average. In the current market context, this scenario is quite unlikely.
During the day, the bullish technical outlook for gold prices will be brought into focus again by the following notable levels.
Support: 2,745 – 2,741 – 2,725USD
Resistance: 2,758 – 2,768 – 2,786USD
SELL XAUUSD PRICE 2774 - 2772⚡️
↠↠ Stoploss 2778
→Take Profit 1 2767
↨
→Take Profit 2 2762
BUY XAUUSD PRICE 2730 - 2732⚡️
↠↠ Stoploss 2726
→Take Profit 1 2737
↨
→Take Profit 2 2742
Traders prepare to release key economic data that will help set the tone for the Federal Reserve's next policy decision. Although tensions in the Middle East appear to have cooled, the Uncertainty about the US election still supports gold prices.
The Fed will announce its interest rate decision at its two-day meeting starting November 6. Jobs and inflation data, as well as if the results of the US presidential election are contested, This could influence the Fed's decision.
The market still expects policymakers to cut interest rates by 25bps at their November meeting. Lower borrowing costs are typically positive for gold, which does not yield a yield.
According to CME's FedWatch Tool, the market expects the probability of the Fed cutting interest rates by 25 basis points to be about 98.4%.
When the presidential election between Harris and Trump was still too close, gold had 3 consecutive weeks of increases despite the increase in US Treasury bond yields and the USD, which often puts pressure on precious metals, losing correlation. This describes both gold and USD as having separate supports.
According to the latest statistics from the China Gold Association, China's gold consumption decreased by 11.2% year-on-year in the first three quarters of 2024 as high prices suppressed jewelry demand.
Analysis of technical prospects for
XAUUSD Gold has had 3 consecutive days of increase and is heading for the 4th day of price increase after adjusting and taking support from the short-term price channel and the 1% Fibonacci level.
Currently, gold is close to the all-time peak set previously, once gold breaks the $2,758 level which is also the target increase since gold corrected down from this level, it will have enough room to continue. upside with the next target around 2,768USD in the short term, more than the 2,786USD price points of the Fibonacci 0.382% and 0.50%.
The relative strength index (RSI) is pointing up with no signs of weakness as it approaches the overbought area, suggesting that bullish momentum remains solid, and as long as gold remains within the channel it will continue to trend. short-term upward trend.
However, in case it is sold below 2,700 USD, it will open up expectations for a medium-term correction down cycle with the target at the area of the EMA21 moving average. In the current market context, this scenario is quite unlikely.
During the day, the bullish technical outlook for gold prices will be brought into focus again by the following notable levels.
Support: 2,745 – 2,741 – 2,725USD
Resistance: 2,758 – 2,768 – 2,786USD
SELL XAUUSD PRICE 2774 - 2772⚡️
↠↠ Stoploss 2778
→Take Profit 1 2767
↨
→Take Profit 2 2762
BUY XAUUSD PRICE 2730 - 2732⚡️
↠↠ Stoploss 2726
→Take Profit 1 2737
↨
→Take Profit 2 2742
Nota
⚫Gold: Gold price is currently at 2748.96 USD/ounce, looking to hold the support level of 2750 USD/ounce. If it sustains above this level, it is likely to test the resistance at $2,759.Nota
Nota
Gold prices continued to increase, reaching a new peak of 2,790 USD/oz at noon today amid many worries about the US election.
The upward momentum appears to be unaffected by rising Treasury yields and the strengthening USD.
Nota
Gold is approaching the session's bottom, fluctuating around 2772 USD/ozNota
🔴According to news on October 30, spot gold stood at 2,790 USD/ounce, continuing to reach a record high, up 0.13% on the day.Nota
Yesterday, XAU/USD extended its rally as demand for safe-haven assets surged ahead of the upcoming US presidential election. In addition, investors' expectations about the Fed's move to lower interest rates also contribute to boosting gold prices. According to Reuters, traders predict there is a 96% chance that the Fed will lower interest rates by 0.25% next week.Dagangan ditutup: sasaran tercapai
Plan BUY Hit Full TP2 + 105pips🤕🤕🤕. Congratulations everyoneNota
Gold prices fell on Thursday (October 31), as prices consolidated after hitting a record high, while safe-haven demand ahead of the US presidential election helped the precious metal record a record high. 4th consecutive month of increase.Nota
World gold prices fell in the trading session on Friday (November 1) under pressure from rising US Treasury bond yields and the USD exchange rate. However, the need to hedge risks ahead of the US presidential election next week helps limit the decline in gold prices.Nota
Last week, the gold market experienced many notable fluctuations. Gold prices soared to an all-time high, exceeding $2,800/ounce, as investors bought based on rumors about the race for the White House between former President Donald Trump and Vice President Kamala Harris. as well as tensions in the Middle East.
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