XAU/USD : Gold Set for a Move as U.S. Election Sparks Volatility

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By analyzing the #Gold chart in the 1-hour timeframe, we can observe several reactions to the demand levels we identified. Yesterday, we saw an initial bounce from the $2733 zone, with a 70-pip rise taking it close to $2740. Later, this morning, the price dipped below $2730 and reached the $2727 zone, where it was met with strong demand, resulting in a sharp increase of over 200 pips up to $2745.

Currently, gold is trading around $2742, and I expect it to soon make another move toward the liquidity pools above $2745 and $2748. After that, keep an eye on the price reaction at $2752.

Note that today is the U.S. election day, and the market may experience significant volatility. Be cautious with your trades!

Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !

Best Regards , Arman Shaban

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GOLD ~ $2745 Reached
GOLD ~ $2748 Reached