XAUUSD Forex Analysis for Today, Tuesday (23-01-2024)
Get Ready to SELL GOLD: Bearish Engulfing Pattern Emerges
Fed Interest Rate Expectations Still Pressuring Gold
Gold prices closed lower yesterday as the market remains convinced that the Fed will not cut interest rates at the March meeting.
Bearish Engulfing Present, Still Potential for Decline
Gold prices show a bearish engulfing pattern in the H1 time frame, still opening opportunities to signal another sell.
Prediction: WEAK GOLD
Resistance
- R1 2032.00
- R2 2020.40
- R3 2034.00
- R4 2040.00
Support
- S1 2020.43
- S2 2032.00
- S3 2016.00
- S4 2012.00
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