XAUUSD Forex Analysis for Today, Wednesday(31-01-2024)

XAUUSD Forex Analysis for Today, Wednesday(31-01-2024)

XAUUSD Forex Analysis for Today, Wednesday(31-01-2024)

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Wow, GOLD Could Sell Again? Another Bearish Engulfing!

Daily Analysis XAUUSD

Market Increasingly Focused on Fed

Gold prices were volatile again yesterday, briefly rising to a two-week high due to corrections in the USD amid market anticipation of the Fed’s interest rate decision. The market is looking for clues on how quickly the Fed will cut interest rates this year.

Bearish Engulfing Seen

Prices seem to be held in the resistance area. A significant bearish engulfing pattern is visible again on the H4 time frame, and prices have pulled back to the resistance area again.

Prediction: WEAK GOLD


  • R1 2064.00
  • R2 2050.00
  • R3 2071.00
  • R4 2080.00


  • S1 2037.74
  • S2 2060.00
  • S3 2032.62
  • S4 2024.70

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