XAUUSD Forex Analysis for Today, Monday(08-04-2024)
Opportunity to BUY XAUUSD: Targeting Price Correction at Support!
Daily Analysis XAUUSD
Gold Prices Continuously Driven by Fundamentals
Gold strengthened to all-time highs last week, ignoring the strong NFP report for March in the US. Gold prices continue to be driven by fundamentals related to geopolitical risks and strong physical demand from China.
Holding at Support, Target Price Correction
Prices are holding at the nearest support area on the H1 time frame. BUY potential is available by targeting price correction at this support area for confirmation of the uptrend continuation.
Prediction: STRONG XAUUSD
Resistance
- R1 2300.89
- R2 2285.23
- R3 2313.75
- R4 2321.98
Support
- S1 2285.23
- S2 2300.89
- S3 2276.30
- S4 2267.62
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