XAUUSD Forex Analysis for Today – Thursday (08-02-2024)
GOLD Still Can be SELLed, Held at Resistance
Daily Analysis XAUUSD
Market Awaits Fed Signals
Gold prices are moving steadily as the market awaits signals from Fed officials regarding the direction of interest rate policies.
Held at Resistance Area
After the breakout of the trendline, gold prices pulled back and were held again at the resistance area. Monitor the resistance area to seek confirmation for sell signals. Stay cautious if prices move back above the trendline, as it could change the intraday bias to bullish.
Prediction: WEAK GOLD
Resistance
- R1 2052.13
- R2 2038.31
- R3 2056.86
- R4 2065.43
Support
- S1 2038.31
- S2 2052.13
- S3 2034.21
- S4 2028.03
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