Intraday Bias for XAUUSD Turns Bullish, Look for BUY Opportunities
Daily Analysis XAUUSD
USD Correction Boosts Gold
Gold prices rose to weekly highs yesterday as the USD corrected, while the market still awaits FOMC meeting minutes for further clues about the Fed’s interest rate cut plans.
Upward Trendline Visible
The intraday bias for now tends to be bullish, marked by the visible upward trendline on the H1 time frame. Corrections occurred to the trendline area, but for better buy opportunities, it is advisable to monitor the nearest support area.
Prediction: STRONG GOLD
Resistance
- R1 2020.13
- R2 2012.66
- R3 2022.77
- R4 2030.62
Support
- S1 2012.66
- S2 2020.13
- S3 2008.77
- S4 2001.98
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