XAUUSD Forex Analysis for Today, Tuesday (13-08-2024)
Keep Monitoring for BUY Opportunities in XAUUSD! Still Above the UP TRENDLINE!
XAUUSD Analysis
Safe-haven Demand Lifts Gold
Gold prices surged over 1% yesterday, driven by safe-haven demand as the market anticipates the US inflation data this week, which could provide early signals on the Fed’s rate cut direction.
Watch the Trendline Area
The price is still moving above the ascending trendline on the H1 time frame. A buying opportunity can be sought if a correction occurs toward this trendline area.
Forecast: STRONG XAUUSD
Resistance Levels:
- R1: 2409.61
- R2: 2469.25
- R3: 2496.67
- R4: 2523.07
Support Levels:
- S1: 2360.00
- S2: 2380.00
- S3: 2400.00
- S4: 2420.00
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