XAUUSD Forex Analysis for Today, Tuesday(30-01-2024)
Source: https://onlineforexafrica.com
Prepare to SELL GOLD: Another Bearish Engulfing!
Daily Analysis XAUUSD
Middle East Situation and Fed Rate Prospects Influence Prices
Gold prices are volatile influenced by escalating tensions in the Middle East. At the same time, the market is still awaiting the Fed’s interest rate decision this week.
Bearish Engulfing Seen
Prices appear to be held at the resistance area. A significant bearish engulfing pattern is seen on the H1 timeframe, and prices have pulled back to the resistance area again.
Prediction: WEAK GOLD
Resistance
- R1 2040.65
- R2 2033.70
- R3 2043.00
- R4 2047.65
Support
- S1 2034.00
- S2 2040.65
- S3 2032.30
- S4 2025.35
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