XAUUSD BUY Opportunity: BULLISH FLAG CONFIRMED AGAIN!
XAUUSD Analysis
Market Confidence in Fed Remains
Gold prices continue to strengthen as the market remains confident that the Fed will proceed with a rate cut in September. Currently, according to the CME FedWatch Tool, 71% of market participants believe the Fed will implement a 25 basis point rate cut, while 29% foresee a 50 basis point rate cut.
Bullish Flag Confirmed
The bullish flag pattern has been confirmed again on the H1 timeframe. A pullback is occurring near the flag area. A buy signal can be sought again if a correction occurs near the entry area close to the upper line of the pattern.
Prediction: STRONG XAUUSD
Resistance Levels
- R1 2501.86
- R2 2528.78
- R3 2540.56
- R4 2552.94
Support Levels
- S1 2470.00
- S2 2480.00
- S3 2490.00
- S4 2500.00
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