Daily Technical Analysis & Recommendations - GOLD - XAUUSD - 1st November, 2022

• Bulls face uphill task below $1650, FED eyed. 
• All eyes on Wednesday's US Federal reserve decisions. 
• Gold place the low of $1630, now at 1642 still valid target of $1620. 
• ISM manufacturing PMI data eyed today. 
• We must stay on downward side.

Recommendations: Stay in sell positions, Target $1625/1620, Stop Loss above $1650, Stay in downside until the trend line breaks. 

Alternative Scenario: Break of $1650 will turn the price in neutral zone. 

Naveed Anjum

Technical Analyst