XAUUSD forex analysis for today, Thursday(09-05-2024)

XAUUSD forex analysis for today, Thursday(09-05-2024)

XAUUSD Still Holding Support, Look for BUY Opportunities

Analyze XAUUSD

Market Awaits “Clue” on Fed Rate Cut

Gold prices continue to move steadily as market participants await further clues regarding the potential Fed interest rate cut. Meanwhile, the People’s Bank of China continues to buy gold for the 18th consecutive month, recently purchasing 19 metric tons.

Still Range-Bound Between Support-Resistance

Prices are still moving within the support and resistance range and are currently testing the support area. Look for buying opportunities in that support area, as long as support holds.


  • Resistance
    • R1 2313.37
    • R2 2302.18
    • R3 2320.35
    • R4 2331.98
  • Support
    • S1 2302.18
    • S2 2313.37
    • S3 2294.72
    • S4 2285.08



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