XAUUSD Forex Analysis for Today, Wednesday (03-07-2024)

XAUUSD Forex Analysis for Today, Wednesday (03-07-2024)

XAUUSD Forex Analysis for Today, Wednesday (03-07-2024)

XAUUSD Still Hovering Around Resistance, Look for SELL Opportunities

Analysis XAUUSD

Comments from Powell Still Being Digested, Market Awaits Data

The market is still waiting for the US non-farm payrolls data this week after the JOLTs Job Openings data was announced higher than expected at 8.14 million. The previous data was revised to 7.92 million. The market is also digesting the statement from Fed Chairman Jerome Powell, who expressed satisfaction with the inflation data progress but reiterated that the Fed needs more evidence to change interest rates.

Still in Resistance Area

Gold prices are still moving in the resistance area visible on the H1 time frame. Sell opportunities can be found in this resistance area.

Prediction: Weak XAUUSD


  • R1 2350.00
  • R2 2348.39
  • R3 2339.76
  • R4 2330.07


  • S1 2348.39
  • S2 2330.07
  • S3 2322.21
  • S4 2314.01

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