empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

30.10.202415:55 Forex Analysis & Reviews: Trading Signals for GOLD (XAU/USD) for October 30-31, 2024: sell below $2,789 (21 SMA - 200 EMA)

Relevance up to 08:00 UTC--5
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 30.10.2024 analysis

Early in the American session, the XAU/USD is trading around 2,777 showing a technical correction after having reached the high of 2,789.

In the next few hours, there will be releases of US data. Following the reports, the gold price could resume its bullish cycle and we could expect it to reach 2,790 and even 4/8 Murray around 2,812.

In case gold finds a rejection around the R_1 at 2,785, it could be seen as an opportunity to sell with the target at the bottom of the uptrend channel around 2,760.

In case the bearish pressure persists, we could expect gold to reach the 21 SMA around 2,751, a level where it could be a good point for a technical bounce so that the instrument could resume its bullish cycle.

Additionally, in case the bearish force prevails, we could expect gold to sharply break the bullish trend channel. Then, the first target could be to reach 3/8 of Murray located at 2,734 and finally the 200 EMA around 2,663.

The eagle indicator is giving a negative signal which supports our bearish strategy.

Dimitrios Zappas
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off