XAUUSD Forex Analysis for Today, Monday(01-04-2024)
Potential Buying Opportunity in XAUUSD: Targeting Correction in Gap Area!
Daily Analysis XAUUSD
Gold Demand Remains Strong
The dollar is likely to continue to be supported in the second quarter due to the potential for a strong labor market that adds pressure to existing inflation. However, geopolitical factors such as the Russia-Ukraine conflict and physical gold demand by central banks remain key determinants in the current strong gold price trend.
Confirmed Triangle Breakout, Correction to Gap Area
The Triangle pattern has been broken and confirmed to continue its uptrend on the H4 time frame. Target the correction in the gap area to continue its upward trend.
Prediction: STRONG XAUUSD
Resistance
- R1 2225.56
- R2 2115.52
- R3 2242.36
- R4 2250.22
Support
- S1 2115.52
- S2 2225.56
- S3 2208.92
- S4 2200.72
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