XAUUSD Forex Analysis for Today – Tuesday (05-03-2024)
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XAUUSD Seeks Another Buying Opportunity! Potential Bullish Flag
Daily XAUUSD Analysis
Fed Almost Certainly to Cut Rates in June
Gold prices continue to strengthen and hover near a two-month high, as the market is confident that the Fed is almost certain to cut interest rates in June.
Potential Bullish Flag Pattern
Prices are moving in a strong bullish bias, with the potential formation of a bullish flag pattern on the H1 time frame. Breaking above the resistance area will increase buying opportunities.
Prediction: STRONG GOLD
Resistance Levels
- R1: 2121.35
- R2: 2107.57
- R3: 2127.95
- R4: 2134.70
Support Levels
- S1: 2107.57
- S2: 2121.35
- S3: 2100.54
- S4: 2088.49
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