XAUUSD Forex Analysis for Today, Monday (01-07-2024)
SELL Opportunity for XAUUSD! Head and Shoulders Pattern Detected
Analysis XAUUSD
US Inflation Data Meets Expectations
The US Core PCE Price Index data was announced in line with expectations. The data tends to show a slowdown in inflation, but the market is still awaiting confirmation from the FOMC regarding the direction of interest rates.
Head and Shoulders Pattern
A head and shoulders pattern is visible on the M30 time frame. Selling opportunities can be sought in the neckline area of this pattern.
Prediction: Weak XAUUSD
Resistance
- R1 2341.24
- R2 2327.03
- R3 2324.58
- R4 2320.00
Support
- S1 2341.24
- S2 2313.83
- S3 2306.38
- S4 2298.55
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