XAUUSD Still SELL Potential After Hitting TP2, Held by Down Trendline
XAUUSD Analysis
Gold Hits Lowest Level in a Week
Gold prices briefly touched their lowest point in a week, pressured by the strengthening USD as the market awaits the US non-farm payrolls data, which could influence the magnitude of the Fed’s interest rate cuts.
Still Held by Down Trendline
Gold is once again testing the resistance area after breaking through TP2 as per yesterday’s Trade Plan. On the H1 time frame, the price remains below the descending trendline. Selling opportunities can still be sought around the entry area and the descending trendline.
Prediction: WEAK XAUUSD
Resistance Levels
- R1 2540.00
- R2 2530.00
- R3 2520.00
- R4 2510.00
Support Levels
- S1 2507.53
- S2 2485.33
- S3 2474.75
- S4 2463.64
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