XAUUSD Forex Analysis for Today, Friday(05-07-2024)
XAUUSD Still Uptrend, Look for BUY
XAUUSD Analysis
Market Awaits US NFP
The market is waiting for the announcement of US non-farm payrolls data tonight, expected to be lower than previous data. A decline in US economic data could raise expectations that the Fed will cut interest rates in September.
Monitor Trendline Area
The price appears to be moving above the ascending trendline on the H1 time frame. Buying opportunities can be sought if there is a correction to the trendline area.
Prediction: STRONG XAUUSD
Resistance
- R1 2317.14
- R2 2360.00
- R3 2380.00
- R4 2400.00
Support
- S1 2320.00
- S2 2340.00
- S3 2260.00
- S4 2280.00
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