empty
 
 
sp
Soporte
Apertura instantánea de la cuenta
Plataforma comercial
Depositar/Retirar

10.10.202414:54 Forex Analysis & Reviews: XAU/USD: Analysis and Forecast

Exchange Rates 10.10.2024 analysis

Today, the precious metal is attracting some buyers and appears to have interrupted its six-day losing streak. However, the upward momentum lacks conviction, and the rise is likely to lose momentum due to growing expectations of a 25 basis point rate cut by the Federal Reserve in November. This supports the U.S. dollar, maintaining its recent strength at an eight-week high, creating a headwind for gold.

Exchange Rates 10.10.2024 analysis

Technical Analysis: The break below the $2,630 level is considered a bearish trigger. Nevertheless, the oscillators on the daily chart remain in positive territory despite losing strength. Moreover, the price has managed to stay above the key psychological level of $2,600. Therefore, it would be prudent to wait for a confirmed break below this level before positioning for deeper losses. The XAU/USD pair could then continue its decline toward the next major support at $2,560, heading toward the $2,532 level, and eventually descending to the psychological level of $2,500.

On the other hand, the breakout point at $2,630 now serves as the nearest resistance for any upward movement. Any further rise may present a selling opportunity and would likely be capped near the significant horizontal barrier of $2,656. Sustained strength beyond this point could lift gold prices into the $2,672 supply zone, above which the bulls could attempt to challenge the historical high reached in September. Following that, the round level of $2,700 could extend the multi-month upward trend if this level is breached.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Irina Yanina,
Analytical expert of InstaSpot
© 2007-2024
Benefíciese de las recomendaciones de los analistas ahora mismo
Recargue su cuenta de operaciones
Abra una cuenta de operaciones

¡Los informes analíticos de InstaSpot lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaSpot, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.