XAUUSD Forex Analysis for Today, Thursday (01-08-2024)
Look for BUY Opportunities on XAUUSD: Moving Above Trendline
XAUUSD Analysis
Powell Signals Faster Rate Cuts
Gold prices rose after Fed Chairman Jerome Powell signaled that the Fed might soon cut interest rates in September if inflation aligns with forecasts.
Moving Above Trendline
An upward trendline and an accelerating trendline are visible on the H1 time frame. Look for buy opportunities in the area of the accelerating trendline.
Prediction: STRONG XAUUSD
Resistance
- R1 2412.67
- R2 2449.29
- R3 2467.57
- R4 2484.86
Support
- S1 2380.00
- S2 2400.00
- S3 2420.00
- S4 2440.00
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