Gold Bullish Continuation Aiming for New Highs

Nenad Kerkez Top-XE

Gold is unstoppable. After a retracement to the POC zone at 1385-1390 the price continued going up. We have the new POC zone formed at the ATR low.

1410-1415 could make the price bounce again on a bullish reversal candlestick pattern. If we don’t see a retracement to the POC watch for a continuation above D H4 camarilla pivot at 1438. The main target is 1442. However a strong bullish impulse could lead to 1450 and 1456. Only a break below the lower trend line 1390 could make Gold neutral again. So far, buying the dip is obvious on intraday time frames.

Gold Current Trading Positions

Sell 20%

Buy 80%

Avg Sell Price 1360.00

Avg Buy Price 1285.50

Liquidity Distribution

The analysis has been done with the CAMMACD.MTF template.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Author

Nenad Kerkez

Top-XE

AUD/USD holds above 0.6900 ahead of China’s trade data

AUD/USD struggles to capitalize on the previous day’s recovery move as prolonged Middle East uncertainty supports the safe-haven US Dollar. Moreover, Fed hike bets provide a tailwind for the buck, while expectations of a cautious, on-hold RBA stance cap the Aussie. Spot prices, however, hold above 0.6900 as traders look to China’s trade data and the US CPI report for a fresh impetus.

USD/JPY retakes 158.00 on weak Japanese data; focus shifts to US CPI

USD/JPY attracts some dip-buyers during the Asian session on Tuesday as a fall in Japan’s Household Spending undermines the Japanese Yen. Moreover, Fed hike bets and Middle East uncertainty support the safe-haven US Dollar and the currency pair. The market focus now shifts to the release of the crucial US CPI report.

Gold retreats from three-week top; $4,150 resistance holds ahead of US CPI

Gold drifts lower during Tuesday’s Asian session, reversing part of the previous day’s strong gains to a near three-week high, around the $4,150 hurdle, as mixed signals about US-Iran peace talks support the safe-haven US Dollar. Traders now look to the crucial US CPI report for more cues about the Fed’s policy path, which would drive the buck and influence the non-yielding bullion.

NYSE taps Avalanche for clearing and settlement of tokenized securities

Avalanche defied the crypto market drawdown on Monday, up 4% after announcing it will provide the core ledger technology for clearing in the New York Stock Exchange's upcoming tokenized securities trading platform.

US CPI preview: Moderation on the horizon, but underlying pressures linger

The US Consumer Price Index for October will be released on Tuesday, November 10, at a time when financial markets are receiving rather different signals from inflation, employment and credit conditions. September's inflation report showed headline consumer prices rising by 0.6% month over month, while core inflation increased by 0.3%.

Gold reclaimed $4,100. Tuesday’s CPI test decides if it holds

Gold (XAU/USD) starts the week on a positive note, reclaiming the $4,100 psychological level as the US Dollar (USD) retreats from its recent highs. The precious metal recovers from Friday's losses, although investors remain cautious ahead of Tuesday's US Consumer Price Index (CPI) report, which could determine the next direction for Bullion.