XAUUSD Forex Analysis for Today, Thursday (04-07-2024)
Breaks Resistance, Look for BUY XAUUSD
Analysis XAUUSD
Gold Rises Due to Fed Rate Cut Expectations
Gold prices have strengthened following US economic data showing a slowdown, thereby bolstering expectations of a Fed rate cut in September.
Breaks Trendline, Monitor Trendline
Gold prices rallied after breaking resistance. The price is moving above the upward trendline on the H1 time frame. Buying opportunities can be sought if there is a correction to the trendline area.
Prediction: Strong XAUUSD
Resistance
- R1 2317.14
- R2 2360.00
- R3 2380.00
- R4 2400.00
Support
- S1 2274.00
- S2 2272.00
- S3 2270.00
- S4 2268.00
Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.