Gold attracts buyers in early European Session

Gold is trading with positive bias today as Buyers jumped into Asian Session after Dollar Index & US10 Year Bond Yields are showing some correction. The US political uncertainty ahead of the November 5 Presidential election and Middle East tensions turn out to be key factors that continue to act as a tailwind for the safe-haven commodity.
It is important to note that today we will having 2 data & in US Session it would be crucial that how Price Action is happening. As per forecast Unemployment Claims are higher than the previous week at 243k vs 241k of last's week. Apart from this traders are also waiting for Manufacturing & Services PMI data later due today.

Gold Structure: Bearish Engulfing on Daily, Steep fall after H&S on 15 mins, Rising Wedge in Formation,

Intraday Strategy/ Intraday Trend: Buy on Support,Sell on Resistance/ Neutral

Weekly Trend: Hyper Bullish

Major Resistance: 2730,2738,2749

Major Support: 2718,2712,2708

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Maddy

Cross-Asset Analyst & Trainer

Varun Sharma

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VJ Yadav

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