Gold price according to the trend, continue to increase prices
Hello dear friends! ending the trading week with gold, let's recap the past week and discuss the new strategy for the upcoming week with Karina!
In general: Last week, gold received several important news, including the Fed's interest rate decision. Despite this, the precious metal has maintained its strong upward trend, trading around $1985 per ounce last week, with slight touches of $2000. Currently, gold has paused at $1992 and continues to show signs of further price increases, indicating its long-term development strength.
Regarding the latest news impacting gold:
The XAU/USD price reached its highest level of nearly $2005 on Friday after the US Non-Farm Payrolls (NFP) report, but quickly recovered to the average trading level and ended at around $1992
Technical outlook for XAU/USD:
The previous uptrend was broken at $1987, along with a reversal signal from the EMA 34. However, gold quickly formed a new upward channel and continues to operate well within that trend. Karina has read all the comments and messages, and most of Karina friends believe in a price increase for the coming week, and Karina also shares that belief. Karina's target is for gold to reach the $2005 area next week and conquer the weekly high at the $2010 level.
What about you? What do you think about the upcoming trend for gold? Comment and let Karina know!
In general: Last week, gold received several important news, including the Fed's interest rate decision. Despite this, the precious metal has maintained its strong upward trend, trading around $1985 per ounce last week, with slight touches of $2000. Currently, gold has paused at $1992 and continues to show signs of further price increases, indicating its long-term development strength.
Regarding the latest news impacting gold:
The XAU/USD price reached its highest level of nearly $2005 on Friday after the US Non-Farm Payrolls (NFP) report, but quickly recovered to the average trading level and ended at around $1992
Technical outlook for XAU/USD:
The previous uptrend was broken at $1987, along with a reversal signal from the EMA 34. However, gold quickly formed a new upward channel and continues to operate well within that trend. Karina has read all the comments and messages, and most of Karina friends believe in a price increase for the coming week, and Karina also shares that belief. Karina's target is for gold to reach the $2005 area next week and conquer the weekly high at the $2010 level.
What about you? What do you think about the upcoming trend for gold? Comment and let Karina know!
Comment:
The US NFP report missed expectations, showing the US added only 150 thousand jobs in October compared to September's bumper reading of 297 thousand jobs additions, which saw a downside revision from the initial print of 336K.
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