XAUUSD Forex Analysis for Today, Friday(12-07-2024)
Opportunity to BUY XAUUSD! Symmetrical Triangle Pattern Confirmed
XAUUSD Analysis
Inflation Data Supports Fed Rate Cut
Gold prices rose by more than 1 percent yesterday after the US CPI data showed a decrease. The CPI MoM was recorded at -0.1 percent, down from 0 percent. This increases expectations that the Fed will cut interest rates as soon as possible.
Symmetrical Triangle Pattern
A symmetrical triangle pattern has been confirmed on the H1 time frame. Buying opportunities can be sought if there is a pullback near the upper line area of this pattern.
Prediction: STRONG XAUUSD
Resistance
- R1 2347.24
- R2 2419.09
- R3 2456.65
- R4 2494.16
Support
- S1 2320.00
- S2 2360.00
- S3 2400.00
- S4 2440.00
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