XAU/USD Daily Candlesticks & Ichimoku Chart

Despite market pricing expectations of rate cuts by the Federal Reserve, Gold is weakening against the USD. XAU/USD has closed below the Daily Ichimoku Cloud for the first time since late last year. If it stays below the cloud, and breaks decisively below 1270-80, the next target would be the low 1200s.

Vee, our Founder/CIO highlights patterns/formations on selected chart(s) every week which may have the potential to turn into trading opportunities. These charts are first sent out on Monday of the week to members subscribed to THE LONG & SHORT OF IT, which helps you to filter out the noise and condense only what’s important in the markets for the week ahead.

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