laurettaelorm
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laurettaelorm
Gold (XAU/USD) has pulled back into a significant buy zone between 2626 and 2630 aligning with a key demand area and the ascending trendline support. This retracement provides a potential entry point for buyers looking to capitalize on the next leg up.Scenario:If price holds within this zone, we could see a bullish reaction driving prices towards the $2,704 resistance level.The overall trend remains bullish, with the higher lows supporting a continuation of the upward momentum.Keep an eye on price action within the buy zone for confirmations before entering long positions. Always use proper risk management!
laurettaelorm
As the year draws to a close, we’ve seen gold maintain a strong bullish trend throughout. However, with the year-end approaching, banks, institutions, hedge funds, and other major market players are likely to start unwinding their long positions. This shift could create increased bearish momentum for gold from now until the end of the year.For November, I expect continued bullish action as these institutions gradually reduce their long exposure, creating short-term buying pressure. After this phase, I anticipate a period of consolidation before price resumes a downward push.If gold price consolidates around the 2760.00 level, I’ll be watching for an opportunity to short down to the 2680.00 range, which could provide solid support. Should price break below this consolidation pattern, we can expect a continued bearish trend to unfold. However, if price holds within the pattern without breaking lower, it may signal a continuation of the current upward movement.
laurettaelorm
Gold remains very bullish, and even though we have no historical data to base our analysis on, we can continue trading according to the trend until we see a bearish confirmation later in the future.
laurettaelorm
I believe we'll see one last drop on Gold to make a trendline touch before market turns bullish again.
laurettaelorm
XAUUSD. We should expect to make impulses and a push to the downside anytime soon provided Gold is able to push up and hit the trendline.We'll look for SELL entries on 5m or 15m
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