XAUUSD Has BUY Potential Again! Bullish Flag Forming!
XAUUSD Analysis
Powell Signals Green Light for Rate Cut
The USD weakened further after Fed Chairman Jerome Powell, in his speech at the Jackson Hole Symposium, signaled a green light for a rate cut in September. Gold strengthened in response to the USD’s weakness.
Bullish Flag Spotted
A bullish flag pattern is visible on the H1 time frame. A buy signal can be sought again if a correction occurs near the upper line of this pattern.
Forecast: STRONG XAUUSD
Resistance Levels:
- R1: 2491.44
- R2: 2513.37
- R3: 2523.74
- R4: 2533.80
Support Levels:
- S1: 2450.00
- S2: 2460.00
- S3: 2470.00
- S4: 2480.00
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