As projected XAUUSD crashed to $2552 zone ($2548 target 2) in the analysis published above in sequence in real time on our Telegram Channel and X (Twitter handle) in real time: the accuracy can be cross verified for records.

I emphasized yesterday on BUYING lows below $2569, with a possible range of crash till $2552/2542. XAUUSD reversed from $2548 BUY Entry target 2 and achieved the high of $2560 before US session closing, XAUUSD crashed back to $2552 on 19 September 2024 early trading hours and marched towards $2569, 2585 and $2594 respectively due to geo-political tension, and various other reasons listed below.

XAUUSD CMP $2580

Yesterday, the Fed announced a 50 basis points (bps) rate cut on Wednesday, bringing the fed funds rate to the range of 4.75%-5.0%. The Summary of Economic Projections, the so-called Dot Plot chart, suggested a total of 100 bps of rate cuts for this year and the next.

Media projected Mr. Powell’s tone, USD movement as negative and dovish, however in my opinion, Dollar was all set to rise after Mr. Powell’s speech due to the strong indication of considering 50 BPS rate cut as a one time saga, in addition further cautious steps to be taken by Fed ONLY after carefully observing the Jobs data.

Why XAUUSD retraced back from $2552 (as projected yesterday in our analysis) and achieved target zone $2595?

• Profit Booking
• Liquidation of Long positions
• Thinner volumes
• Geo political tension: the renewed Middle East geopolitical tensions.
• A re-escalation of the tensions between Israel and Hezbollah is likely to bode well for the traditional safe-haven Gold price.

According to the latest reports, at least 20 people were killed and over 450 injured in Lebanon after hand-held radios or walkie-talkies used by the militant group Hezbollah exploded in multiple parts of the country. These explosions occurred a day after a suspected Israeli attack targeting pagers used by the group for communication between its members. Source: BLOOMBERG.

XAUUSD retraced from from yesterday’s fall: 90% completed. High chances of correction are there due to liquidation/profit booking by PMS CTA MM and retail traders. Hence considering all the above fundamental and technical reasons, I will prefer to BUY LOWS at the above mentioned price zones, with NAP exit.

🆘ALERT: US10YT + USDJPY +

Data published today at 16.30 hours:

16:30 USD Continuing Jobless Claims 1,829K 1,850K 1,843K

16:30 USD Current Account (Q2) -266.8B -259.0B -241.0B

16:30 USD Initial Jobless Claims 219K 230K 231K

16:30 USD Philadelphia Fed Manufacturing Index (Sep) 1.7 -0.8 -7.0

16:30 USD Philly Fed Employment (Sep) 10.7 -5.7

Result and Impact:

CJC + (less than expected)

IJC + (less than expected)

= USD + XAU –

My Trading Plan for today:

I will BUY Lows below $2569/2552/2542/2525

M15 A S5 S1 S2 $2572

M30 H1 A S5 S1

H4AS5 $2550

Crucial Reversal Spots as mentioned above.

USDJPY – XAUUSD Co-relations:

USDJPY $141.950 – 143.300

Approx 1300 P+

Possible Impact on XAUUSD: $25/30 (-) $2569/2552/2542 once again?