XAUUSD Forex Analysis for Today, Monday(08-07-2024)
Breaks Resistance, Look for BUY XAUUSD
XAUUSD Analysis
June US NFP Lower
June US NFP data was released lower than May, at 206 thousand below May’s figure of 218 thousand. The unemployment rate rose from 4 percent to 4.1 percent. This data increases the likelihood of a Fed rate cut this year, particularly in September.
Monitor Trendline Area
The price is moving above the rising trendline in the H1 time frame. Buying opportunities can be found if there is a correction to the trendline area.
Prediction: STRONG XAUUSD
Resistance
- R1 2345.47
- R2 2390.75
- R3 2414.18
- R4 2434.65
Support
- S1 2320.00
- S2 2360.00
- S3 2280.00
- S4 2400.00

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