XAUUSD Forex Analysis for Today, Tuesday(09-07-2024)

XAUUSD Forex Analysis for Today, Tuesday(09-07-2024)

XAUUSD Forex Analysis for Today, Tuesday(09-07-2024)

Check BUY Opportunity for XAUUSD Now! Price Held at Trendline

XAUUSD Analysis

Risk Appetite Increases

Gold prices corrected due to a rally in the stock market and profit taking following a rally caused by expectations of a rate cut by the Fed in September. However, with the ongoing expectation of a rate cut, the gold correction is expected to be limited.

Look for Buy in Trendline Area

The price correction appears to be held at the rising trendline area observed in the H1 time frame. Buying opportunities can be found in that trendline area.

Prediction: STRONG XAUUSD

Resistance

  • R1 2342.80
  • R2 2362.87
  • R3 2373.44
  • R4 2383.55

Support

  • S1 2300.00
  • S2 2320.00
  • S3 2240.00
  • S4 2360.00
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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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