XAUUSD Forex Analysis for Today, Thursday(11-01-2024)
Wow! GOLD Has Potential to Rise, Tweezer Bottom Detected
Daily Analysis XAUUSD
Anticipation of Inflation Data Pressures Gold Prices
Gold prices weakened yesterday as the market still awaits today’s inflation data, which could provide clues about the Fed’s future interest rate direction.
Appearance of Tweezer Bottom Pattern
The emergence of a tweezer bottom pattern on the H1 time frame has the potential for strength if the price breaks above the resistance.
Conclusion: STRONG GOLD
Resistance
- R1 2045.00
- R2 2035.00
- R3 2050.00
- R4 2055.00
Support
- S1 2026.00
- S2 2016.00
- S3 2028.00
- S4 2032.00
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