Check XAUUSD SELL Potential: BROADENING Pattern Observed
XAUUSD Analysis
USD Strengthens, Market Awaits US GDP
Gold prices dropped amid a strengthening USD as the market anticipates today’s US GDP data, followed by Friday’s US inflation data in the form of the PCE Price Index. If the PCE data comes in lower than expected, the Fed may adopt a more dovish stance. Conversely, if not, the USD’s weakening might be limited.
Broadening Pattern
A broadening pattern has appeared on the H1 timeframe. A sell opportunity can be sought in the entry area below the upper line of this pattern.
Prediction: WEAK XAUUSD
Resistance Levels
- R1 2540.00
- R2 2535.00
- R3 2530.00
- R4 2525.00
Support Levels
- S1 2529.89
- S2 2504.46
- S3 2491.20
- S4 2478.45
Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.
forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast