XAUUSD Technical Analysis 4th November 2024 1h chart
– October Monthly candle closed strong Bullish at 2743.700. Previous Weekly candle closed weak Bullish at 2736.100 leaving a huge Rejection to the upside at 2790s. Friday Daily candle closed small Bearish. I’ll be looking for potential Buys above 2739.500 targeting previous Hourly Support formed at 2745.000 Leaving Runners to the 4h recent Resistance at 2753.700. I’ll be looking for potential Sells below 2730.000 targeting 4h Strong Support formed on 25th October 2024 around 2719.500 Leaving Runners to the 30min Strong Support formed on 23rd October 2024 around 2712.500. Gold falls 1.5% on Friday after a brief spike following weak Non- Farm Payroll figures, The upcoming U.S. presidential election on Tuesday, November 5, is the primary focus for markets and traders globally. With potential policy shifts, and international relations on the line, forex markets are preparing for heightened volatility. Investors are closely monitoring the impact of election outcomes on currency movements, particularly for safe-haven assets and major currency pairs. This critical event could set the tone for market direction in the coming months, making Tuesday a day to watch for significant price action.
