Technical analysis by Selena_Bella about Symbol PAXG: Buy recommendation (11/18/2023)

XAUUSD: 200 pip strategy for next week! Dear friends, as predicted yesterday, gold prices continued to rise strongly (reaching a peak of $1,995 per ounce). The price of gold remained stable during the last trading session of the week, but marked the first week of gains after three consecutive weeks of sharp declines. The weakness of the US dollar and the decrease in 10-year US Treasury yields, amid expectations that the Federal Reserve has completed tightening monetary policy and is preparing to cut interest rates, are contributing factors. This week's data shows that the US consumer price index remained unchanged in October, and another dataset highlighted that the number of Americans filing for new unemployment benefits increased more than expected in the previous week. Lower interest rates put pressure on the US dollar and bond yields, but increase the attractiveness of non-yielding gold bars. Therefore, it would not be surprising in the short term if gold continues to rise strongly in the next week's trading session. In the 4-hour trend, stability is expected, with a projected increase to $2,010. What are your thoughts on this matter?