empty
 
 
it
Supporto
Apertura rapida di un conto
Piattaforma di trading
Ricaricare / Prelevare

02.10.202415:42 Forex Analysis & Reviews: XAU/USD. Analysis and Forecast

Exchange Rates 02.10.2024 analysis

Today, gold is attracting some sellers. Meanwhile, the U.S. dollar, buoyed by signs of a resilient U.S. labor market and fewer chances for more aggressive monetary easing by the Federal Reserve, is holding on to its recent gains from the past two days.

Exchange Rates 02.10.2024 analysis

This factor is primarily pressuring the precious metal. However, the decline in gold prices is being mitigated by the risk of a full-scale war in the Middle East. Fears resurfaced after reports of missile strikes by Iran on Israel on Tuesday. These developments are weighing on investor sentiment, supporting gold as a safe-haven asset.

Therefore, any further decline may be viewed as a buying opportunity. Today, short-term trading opportunities could arise from the release of the U.S. ADP employment report on private-sector jobs.

From a technical perspective, yesterday's strong upward movement during the North American session reinforced the short-term breakout point of the upward channel resistance. This has now turned into support within the $2,624–2,630 area. This zone now serves as a key support level, and a decisive break below it could trigger technical selling. The subsequent decline could pull the price down toward the $2,600 level and the next support zone around $2,560, potentially leading to the $2,532 level.

Exchange Rates 02.10.2024 analysis

On the other hand, the $2,672 level may continue to provide resistance ahead of the recent all-time high reached last week. Beyond that, the $2,700 level could serve as a new catalyst for the bulls, paving the way for the continuation of the long-term upward trend.

Exchange Rates 02.10.2024 analysis

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Irina Yanina,
Analytical expert of InstaSpot
© 2007-2024
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaSpot ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaSpot, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.

In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.