XAU cannot break ATH - correction down to 2500 area
Updated
XAU / USD trend forecast August 30, 2024
Russia launched multiple air strikes on Ukraine this week, costing Moscow around £1.1 billion. At the same time, Ukraine has cautioned that it is closely monitoring its border with Belarus following a recent buildup of troops there, according to Sky News.
The US Gross Domestic Product (GDP) expanded at an annual rate of 3.0% in the second quarter (Q2), as reported by the Department of Commerce in its second estimate released on Thursday. This figure exceeded both the forecasts and the initial estimate of 2.8%.
Additionally, US weekly Initial Jobless Claims for the week ending August 24 fell to 231,000 from 233,000 in the prior week, coming in below the market expectation of 232,000.
September is an opportunity for the financial market: BTC, XAU increases strongly, Gold price needs to accumulate more, the target is to adjust down to the 2500 area.
/// SELL XAU : zone 2527-2530
SL: 2535
TP: 50 - 150 - 300 pips (2500)
Safe and profitable trading
Russia launched multiple air strikes on Ukraine this week, costing Moscow around £1.1 billion. At the same time, Ukraine has cautioned that it is closely monitoring its border with Belarus following a recent buildup of troops there, according to Sky News.
The US Gross Domestic Product (GDP) expanded at an annual rate of 3.0% in the second quarter (Q2), as reported by the Department of Commerce in its second estimate released on Thursday. This figure exceeded both the forecasts and the initial estimate of 2.8%.
Additionally, US weekly Initial Jobless Claims for the week ending August 24 fell to 231,000 from 233,000 in the prior week, coming in below the market expectation of 232,000.
September is an opportunity for the financial market: BTC, XAU increases strongly, Gold price needs to accumulate more, the target is to adjust down to the 2500 area.
/// SELL XAU : zone 2527-2530
SL: 2535
TP: 50 - 150 - 300 pips (2500)
Safe and profitable trading
Trade active
20 pips from entry SELL PLAN 2527-2530 Trade active
30 pips , set up WIN SELL 2527-2530 Trade active
+ 75 pips , FROM entry SELL zone 2527-2530 Trade active
130 pips profit SELL zone 2527-2530, great SELLTrade active
+ 240 pips , from entry sell zone 2527-2530
Near touch FULL TP 3
Trade active
FULL TP signal SELL 2527-2530 Trade active
Gold prices ended August with a slight decrease back to the 2500 area. The price area shows the stability of the upcoming price increase potential waiting for interest rates to be lowered in September 2024.Related publications
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