XAUUSD SELL setup

27 nov

Gold price climbs above $2,650 on trade war concerns, sliding US bond yields and softer USD
Gold price sticks to modest intraday gains near a two-day high, above the $2,650 level, through the first half of the European session as geopolitical risks and US President-elect Donald Trump's tariff plans drive haven flows for the second straight day.

Hotter-than-expected US inflation data could raise further doubts about the Fed’s rate cut trajectory, reinforcing selling pressure around the Gold price.

The 21-day SMA crossed the 50-day SMA from above on a daily closing basis on Tuesday, confirming a Bear Cross.

Adding credence to the downside potential, the 14-day Relative Strength Index (RSI) remains below the 50 level, currently near 47.

Therefore, any upside attempts in Gold price could likely be sold into unless buyers find acceptance above the 21-day SMA and 50-day SMA crossover near $2,660.

The next topside barriers are at the $2,700 level and Monday’s high of $2,721.

Alternatively, the immediate support is at the previous day’s low of $2,605, below which a drop toward the 100-day SMA at $2,569 remains in the offing.A ceasefire between Israel and Lebanon helped reduce the haven demand for the Greenback, exerting additional downward pressure even though the Minutes of the US Federal Reserve (Fed )November meeting showed that officials were divided on further rate cuts.

Reuters reported, “a ceasefire between Israel and Iran-backed group Hezbollah came into effect at 0200 GMT on Wednesday after U.S. President Joe Biden said both sides accepted an agreement brokered by the United States and France.”

27 nov

Trade attivo

XAUUSD SELL 120 pips tp 3 hit running

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27 nov

Trade chiuso: obiettivo raggiunto

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