XAU SCALPING- 6 Jan , Break trend, continue to adjust

6 janv.

XAU / USD trend forecast January 6, 2024

Gold prices (XAU/USD) continue to retreat from Friday's nearly three-week high near $2,665, facing heavy selling pressure for the second consecutive day as the week begins. The decline pushes the precious metal to a fresh daily low around $2,625 during the early European session, primarily influenced by the Federal Reserve's (Fed) hawkish pivot. The Fed's signal to slow the pace of rate cuts in 2025 sustains elevated US Treasury yields, reducing the appeal of the non-yielding yellow metal.

Short term frame - gold price breaks support 2632, correction at the beginning of the week, waiting for recovery and continue to decrease in the short term

/// SELL XAU : zone 2635-2638 scalping

SL: 2641

TP: 50 - 100 - 150pips (2623)

Safe and profitable trading

6 janv.

Transaction en cours

Gold price hit the resistance area at 2649, falling sharply to 2622

7 janv.

Trade fermée: cible de profit atteinte

Gold price sideway in the price range 2635-2645 during the Asian session - Tuesday