XAUUSD Forex Analysis for Today – Tuesday (05-03-2024)

XAUUSD Forex Analysis for Today – Tuesday (05-03-2024)

XAUUSD Forex Analysis for Today – Tuesday (05-03-2024)

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XAUUSD Seeks Another Buying Opportunity! Potential Bullish Flag

Daily XAUUSD Analysis

Fed Almost Certainly to Cut Rates in June

Gold prices continue to strengthen and hover near a two-month high, as the market is confident that the Fed is almost certain to cut interest rates in June.

Potential Bullish Flag Pattern

Prices are moving in a strong bullish bias, with the potential formation of a bullish flag pattern on the H1 time frame. Breaking above the resistance area will increase buying opportunities.

Prediction: STRONG GOLD

Resistance Levels

  • R1: 2121.35
  • R2: 2107.57
  • R3: 2127.95
  • R4: 2134.70

Support Levels

  • S1: 2107.57
  • S2: 2121.35
  • S3: 2100.54
  • S4: 2088.49

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.

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