XAUUSD Forex Analysis for Today
XAUUSD Potential BUY, Held at Trendline
XAUUSD Analysis
Gold Remains Stable Post Biden’s Withdrawal
Gold prices remain stable following the weakening of the USD in response to President Joe Biden’s withdrawal from the US presidential race. Meanwhile, the market is preparing for the release of US PCE data to find clues about the Fed’s next steps. According to the CME FedWatch Tool, 93 percent of market participants believe the Fed will start cutting interest rates in September.
Held at Trendline
Buy opportunities can be sought in the upward trendline area visible on the H1 time frame.
Prediction: STRONG XAUUSD
Resistance
- R1: 2348.01
- R2: 2440.57
- R3: 2480.55
- R4: 2520.33
Support
- S1: 2320.00
- S2: 2360.00
- S3: 2400.00
- S4: 2440.00
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