XAUUSD Forex Analysis for Today, Friday (06-09-2024)
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XAUUSD Looking for BUY Opportunities, Resistance Broken
XAUUSD Analysis
The market’s view on the Fed’s rate cut has shifted. Gold prices have risen again, approaching their weekly highs, supported by the weakening USD and falling bond yields. Yesterday’s ADP nonfarm employment change for August came in lower than expected, although weekly jobless claims showed improvement.
Resistance Broken
The resistance seen yesterday has been broken, and today’s price movement tends to be bullish. BUY opportunities can be found in the entry area near the support zone on the H1 timeframe.
Prediction: STRONG XAUUSD
Resistance Levels
- R1: 2490.14
- R2: 2526.64
- R3: 2542.28
- R4: 2558.61
Support Levels
- S1: 2475.00
- S2: 2480.00
- S3: 2485.00
- S4: 2490.00
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