XAUUSD Forex Analysis for Today, Thursday(01-02-2024)
GOLD DROPS! Can SELL if Trendline is Broken
Daily XAUUSD Analysis
Powell Narrows Rate Cut Chances
Gold prices fall again after Fed Chair, Jerome Powell’s statement, reduces the likelihood of a rate cut in March.
Held at Trendline
Prices are seen held at the trendline. A break below the trendline will increase the selling opportunity.
Prediction: WEAK GOLD
Resistance
- R1 2037.97
- R2 2027.82
- R3 2042.75
- R4 2049.09
Support
- S1 2027.82
- S2 2037.97
- S3 2024.65
- S4 2018.31
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