XAUUSD strong selling setup

1 ธ.ค.

Gold pulls away from daily highs, holds near $2,650
Gold retreats from the daily high it set above $2,660 but manages to stay afloat in positive territory at around $2,650, with the benchmark 10-year US Treasury bond yield losing more than 1% on the day. Despite Friday's rebound, XAU/USD is set to register losses for the week.Technically, Gold buyers are fighting back control, justified by the 14-day Relative Strength Index (RSI) briefly recapturing the 50 level.

However, with the Bear Cross still playing out, Gold price’s bullish conviction could likely peter out.

If Gold buyers fail to find acceptance above the 50-day SMA at $2,670 on a daily closing basis, sellers will likely jump back, sending the bright metal back toward the previous day’s low of $2,621.

The next support aligns at the weekly low of $2,605, below which a drop toward the 100-day SMA at $2,573 cannot be ruled out. The in-line with expectations US Personal Consumption Expenditure (PCE) Price Index data released on Wednesday failed to deter Fed rate cut expectations as markets now pricing in about a 63% chance of a December Fed rate reduction, the CME Group’s FedWatch Tool shows, up from about 55% seen a week ago.

The dovish sentiment around the Fed’s next policy action continues to underpin the non-interest-bearing Gold price.

2 ธ.ค.

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XAUUSD SELL 200 pips tp 1 hit running

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2 ธ.ค.

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XAUUSD SELL 260 pips tp 2 hit running

   BOOOOOM  ENJOY