XAU / USD ! 10/16 Bulls prevail $2685

Oct 16

XAU / USD trend forecast October 16, 2024

Gold prices rose on Tuesday as US Treasury yields fell, limiting gains for the US Dollar. The economic calendar included the New York Empire State Manufacturing Index and the NY Fed Consumer Expectations Survey, with XAU/USD trading at $2,664.

The Empire State Manufacturing Index for September showed a weak result, while the NY Fed survey indicated higher inflation expectations for the month.

Gold price surpassed the nearest resistance zone of 2660, approaching the next price zone of 2672. The bulls are dominating, determined to find the old ATH of 2685 this week.

/// SELL XAU : zone 2685-2682

SL: 2690

TP: 50 - 100 - 200 pips (2665)


/// BUY XAU : zone 2653-2650

SL: 2645

TP: 50 - 100 - 200 pips (2670)


Safe and profitable trading

Oct 16

Trade active

Sideway gold price in the 2660-2670 Asian wednesday session

Oct 16

Order cancelled

Uptrend prevails - wait for the SELL price range 2682-2685

Oct 16

Trade active

+ 40 pips from entry sell 2682-2685

Oct 16

Trade closed: target reached

Sell 2682-2685 has 60 pips profit , plan day

Oct 16

Trade active

+ 100 pips , entry sell 2682-2685 ( resistance ATH )

Oct 16

Trade closed: stop reached

180pips sell signal plan day 2682-2685

Oct 16

Order cancelled

Gold price sustains above 2670 - there are still expectations for a new ATH this week