XAUUSD Forex Analysis for Today, Wednesday (14-08-2024)




XAUUSD Forex Analysis for Today, Wednesday (14-08-2024)

XAUUSD Forex Analysis for Today, Wednesday (14-08-2024)

BUY XAUUSD Opportunity: Potential Symmetrical Triangle Pattern!

XAUUSD Analysis

US PPI Strengthens Fed Rate Cut Expectations

Gold prices remain steady within an uptrend as the US PPI data from yesterday bolsters expectations that the Fed will lower interest rates in September. US PPI registered at 0.1%, below the forecasted 0.2%.

Potential Symmetrical Triangle

There is a potential for a symmetrical triangle pattern to develop on the H1 time frame. This pattern will be validated if the price breaks above the upper line of the formation.

Forecast: STRONG XAUUSD

Resistance Levels:

  • R1: 2456.03
  • R2: 2496.26
  • R3: 2518.31
  • R4: 2540.41

Support Levels:

  • S1: 2380.00
  • S2: 2400.00
  • S3: 2420.00
  • S4: 2440.00


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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. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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