GOLD recovered from $2,606, before a series of key weekly data
In the Asian market on Wednesday (November 27), 
XAUUSD Spot delivery is trading around 2,638 USD/ounce. During this trading day, investors will receive many important data such as the US PCE inflation index, which is expected to create great fluctuations in the gold market in particular and the financial market in general.
The US will release some headline data ahead of the Thanksgiving holiday today (Wednesday).
On Wednesday, the US will release a series of important economic data, with US PCE inflation data expected to receive the most attention.
Today, US durable goods orders for October, last week's initial jobless claims and third-quarter real GDP data will be released.
Surveys showed the U.S. monthly initial durable goods ordering rate in October was expected to rise 0.5%, compared with a 0.7% decline the previous month.
The number of Americans filing seasonally adjusted unemployment claims for the week of November 23 is expected to be 217,000, compared with 213,000 the previous week.
Additionally, U.S. real gross domestic product (GDP) in the third quarter is expected to grow at an annualized quarterly rate of 2.8%.
On the same day, the United States will release the personal consumption expenditures (PCE) inflation report for October. This is the Fed's preferred measure of inflation.
Surveys show that the US PCE price index in October is expected to increase 0.2% monthly and 2.3% annually. Additionally, the US core PCE price index in October is expected to increase 0.3% monthly and 2.8% annually.
The core PCE price index could cause a short-term market reaction, with investors expecting core PCE to rise 0.3% month-over-month in October, in line with September's gain. Data Stronger-than-expected data could boost the US Dollar in its initial reaction and drag gold prices lower. On the other hand, a level of 0.2% or lower could have the opposite impact on gold price action.
Expectations for the Fed to cut interest rates by 25bps in December are currently at 63.1%, according to CME group's FedWatch data.
Analysis of technical prospects forXAUUSD
Gold recovered from the initial support level noted by readers in yesterday's edition at 2,606 USD and is now close to reaching the initial target resistance at 2,644 USD.
The recent decline has created a medium-term trend price channel for gold. This price channel is inclined towards the possibility of a decrease in price. Along with that, gold will also be under the current main pressure with the 21-day moving average (EMA21).
In the interim, gold still has room to recover as long as it remains above its original price point of $2,600, on the other hand if gold breaks $2,644 it could continue to recover a bit further with a target then around $2,663 The price point of the Fibonacci 0.50% is confluent with the EMA21.
However, in case gold falls below the original price point of 2,600 USD, it will be eligible for a new short-term down cycle to open, with a target of 2,591 USD in the short term, more than 2,538 USD.
During the day, gold's technical outlook leans towards price reduction along with the above recovery levels, notable points will be listed as follows.
Support: 2,606 – 2,600USD
Resistance: 2,644 – 2,663USD
SELL XAUUSD PRICE 2661 - 2659⚡️
↠↠ Stoploss 2665
→Take Profit 1 2654
↨
→Take Profit 2 2649
BUY XAUUSD PRICE 2579 - 2581⚡️
↠↠ Stoploss 2575
→Take Profit 1 2586
↨
→Take Profit 2 2591
XAUUSD Spot delivery is trading around 2,638 USD/ounce. During this trading day, investors will receive many important data such as the US PCE inflation index, which is expected to create great fluctuations in the gold market in particular and the financial market in general.The US will release some headline data ahead of the Thanksgiving holiday today (Wednesday).
On Wednesday, the US will release a series of important economic data, with US PCE inflation data expected to receive the most attention.
Today, US durable goods orders for October, last week's initial jobless claims and third-quarter real GDP data will be released.
Surveys showed the U.S. monthly initial durable goods ordering rate in October was expected to rise 0.5%, compared with a 0.7% decline the previous month.
The number of Americans filing seasonally adjusted unemployment claims for the week of November 23 is expected to be 217,000, compared with 213,000 the previous week.
Additionally, U.S. real gross domestic product (GDP) in the third quarter is expected to grow at an annualized quarterly rate of 2.8%.
On the same day, the United States will release the personal consumption expenditures (PCE) inflation report for October. This is the Fed's preferred measure of inflation.
Surveys show that the US PCE price index in October is expected to increase 0.2% monthly and 2.3% annually. Additionally, the US core PCE price index in October is expected to increase 0.3% monthly and 2.8% annually.
The core PCE price index could cause a short-term market reaction, with investors expecting core PCE to rise 0.3% month-over-month in October, in line with September's gain. Data Stronger-than-expected data could boost the US Dollar in its initial reaction and drag gold prices lower. On the other hand, a level of 0.2% or lower could have the opposite impact on gold price action.
Expectations for the Fed to cut interest rates by 25bps in December are currently at 63.1%, according to CME group's FedWatch data.
Analysis of technical prospects for
XAUUSD Gold recovered from the initial support level noted by readers in yesterday's edition at 2,606 USD and is now close to reaching the initial target resistance at 2,644 USD.
The recent decline has created a medium-term trend price channel for gold. This price channel is inclined towards the possibility of a decrease in price. Along with that, gold will also be under the current main pressure with the 21-day moving average (EMA21).
In the interim, gold still has room to recover as long as it remains above its original price point of $2,600, on the other hand if gold breaks $2,644 it could continue to recover a bit further with a target then around $2,663 The price point of the Fibonacci 0.50% is confluent with the EMA21.
However, in case gold falls below the original price point of 2,600 USD, it will be eligible for a new short-term down cycle to open, with a target of 2,591 USD in the short term, more than 2,538 USD.
During the day, gold's technical outlook leans towards price reduction along with the above recovery levels, notable points will be listed as follows.
Support: 2,606 – 2,600USD
Resistance: 2,644 – 2,663USD
SELL XAUUSD PRICE 2661 - 2659⚡️
↠↠ Stoploss 2665
→Take Profit 1 2654
↨
→Take Profit 2 2649
BUY XAUUSD PRICE 2579 - 2581⚡️
↠↠ Stoploss 2575
→Take Profit 1 2586
↨
→Take Profit 2 2591
Заметка
XAUUSD is back in the 2600-2650 range after briefly trading above 2675. However, the price does not emphasize the trend, showing sideways movement.Заметка
On the occasion of Thanksgiving, the entire US market will take a break today. According to annual practice, tomorrow's trading activities are expected to take place in a quiet atmosphere, possibly even becoming one of the trading sessions with the lowest liquidity of the year in the entire market.Заметка
Заметка
Gold reversed the day's decline, from around $2,620 to the top of its daily trading range entering the European session.Заметка
Gold has recovered in the Asian session this morning, currently fluctuating around 2,660 USD/ounce, up 30 USD compared to the previous session due to the market's concern that geopolitical risks remain tense as the war escalates in Russia. Ukraine. At the same time, the ceasefire between Israel and Hezbollah has not yet taken effect and Israel's retaliatory measures are still increasing tensions.Заметка
Gold price closed the week at 2,649 USD/ounce, an increase of 12 USD before closing last week and also the closing price of the last trading session of November. At the beginning of the week, world gold price decreased continuously for 2 sessions. The weekend unexpectedly rebounded thanks to the weakening of the USD and safe-haven demand due to concerns about persistent geopolitical tensions.
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🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
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