XAUUSD Forex Analysis for Today, Thursday (04-07-2024)
Breaks Resistance, Look for BUY XAUUSD
Analysis XAUUSD
Gold Rises Due to Fed Rate Cut Expectations
Gold prices have strengthened following US economic data showing a slowdown, thereby bolstering expectations of a Fed rate cut in September.
Breaks Trendline, Monitor Trendline
Gold prices rallied after breaking resistance. The price is moving above the upward 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 2274.00
- S2 2272.00
- S3 2270.00
- S4 2268.00
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