XAU down! correction 10/10/2024

2024年10月10日

XAU / USD trend forecast October 10, 2024

Gold continued its decline for the sixth straight day after the Federal Reserve (Fed) released its September Meeting Minutes. The Minutes revealed that most FOMC members supported a 50-basis-point cut, though XAU/USD remains near $2,610, down 0.37%.

While some officials preferred a 25 bps cut, all agreed on lowering rates. Most participants saw inflation risks decreasing, while concerns about the labor market increased.

H1 frame shows Gold price correction - amid news of China stopping gold purchases continuing to impact further bullish momentum. Price continues to correct below 2600

/// SELL XAU : zone 2623-2626

SL: 2631

TP: 50 - 100 - 300 pips (2596)


Safe and profitable trading

2024年10月10日

交易开始

Gold price sideway short price range 2610-2620. Waiting for the European session and CPI news

2024年10月10日

订单已取消

Gold price has short recovery on the area 2610- The target towards 2633 trendline resistance H1

2024年10月10日

交易开始

+ 50 pips , signal SELL PLAN DAY 2623-2626

2024年10月10日

交易结束：到达目标

+ 60 pips from entry SELL PLAN DAY 2623-2626