XAUUSD Forex Analysis for Today, Thursday(04-04-2024)
Check the Potential to BUY XAUUSD, Targeting Another Correction After Breaking Resistance!
Daily Analysis XAUUSD
Gold Reaches New All-Time Highs
Gold rallies to a new all-time high at $2,304. The US Dollar is under strong selling pressure after Powell’s dovish tone, reaffirming that recent data on increased employment and higher-than-expected inflation did not significantly alter the overall economic policy outlook for this year. On the other hand, geopolitical tensions continue, supporting further strength in gold prices.
Breaking Resistance at All-Time Highs
The price has broken through the previous all-time high resistance on the H1 timeframe. Target a price correction as confirmation of the resistance breakout to continue its uptrend.
Prediction: STRONG XAUUSD
Resistance
- R1 2280.99
- R2 2268.50
- R3 2293.32
- R4 2300.07
Support
- S1 2268.50
- S2 2280.99
- S3 2261.60
- S4 2254.11
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