Gold --> Break out of channel and test low. Next target?

Nov 14

XAUUSD is in a strong downtrend after leaving the parallel channel. The price is preparing to update the local low. But! There are positive nuances from the news....

According to CME's FedWatch tool, traders are forecasting an 82% chance of the Fed cutting interest rates in December, up from around 58% before the data.

However, investors believe that the new presidency could cause the Fed to pause its easing cycle if inflation spikes after the expected new round of tariffs, which could have an overall negative impact on XAU.

Technically, gold is giving hints of a possible reversal by reacting to key support at 2550. In addition, H1 is starting to show a local down channel. Ahead of the key figures (PPI) and US weekly jobless claims, prices may still test these support areas, but then the market may reverse and find resistance, after which we can expect prices to start to decline gradually until the end of the market-wide euphoria....

Nov 18

Trade active

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