SIDEWAY gold accumulates below 2626 at the end of the week
XAU / USD trend forecast December 20, 2024
Gold prices (XAU/USD) hold steady during the first half of the European session on Friday, supported by the prevailing risk-averse sentiment. Heightened geopolitical tensions and ongoing trade war fears, combined with the looming threat of a potential US government shutdown, prompt investors to seek refuge in the yellow metal. This flight to safety globally results in a slight decline in US Treasury bond yields, which limits the recent surge of the US Dollar (USD) to a two-year high and provides further backing for the commodity.
After forming a long-term bearish structure, along with economic news that does not support XAU, gold is sideways and accumulating below 2626.
/// SELL XAU : zone 2625-2628
SL: 2633
TP: 50 - 150 - 300pips (2598)
Safe and profitable trading
Gold prices (XAU/USD) hold steady during the first half of the European session on Friday, supported by the prevailing risk-averse sentiment. Heightened geopolitical tensions and ongoing trade war fears, combined with the looming threat of a potential US government shutdown, prompt investors to seek refuge in the yellow metal. This flight to safety globally results in a slight decline in US Treasury bond yields, which limits the recent surge of the US Dollar (USD) to a two-year high and provides further backing for the commodity.
After forming a long-term bearish structure, along with economic news that does not support XAU, gold is sideways and accumulating below 2626.
/// SELL XAU : zone 2625-2628
SL: 2633
TP: 50 - 150 - 300pips (2598)
Safe and profitable trading
Trade active
Gold price recovered around 2630 - after yesterday's 25 point interest rate cut
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MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.