XAUUSD Forex Analysis for Today, Tuesday(09-07-2024)
Check BUY Opportunity for XAUUSD Now! Price Held at Trendline
XAUUSD Analysis
Risk Appetite Increases
Gold prices corrected due to a rally in the stock market and profit taking following a rally caused by expectations of a rate cut by the Fed in September. However, with the ongoing expectation of a rate cut, the gold correction is expected to be limited.
Look for Buy in Trendline Area
The price correction appears to be held at the rising trendline area observed in the H1 time frame. Buying opportunities can be found in that trendline area.
Prediction: STRONG XAUUSD
Resistance
- R1 2342.80
- R2 2362.87
- R3 2373.44
- R4 2383.55
Support
- S1 2300.00
- S2 2320.00
- S3 2240.00
- S4 2360.00
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