XAUUSD Forex Analysis – Monday (29-04-2024)

XAUUSD Forex Analysis – Monday (29-04-2024)

XAUUSD Forex Analysis for Today – Monday (29-04-2024)

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Prepare to SELL XAUUSD, Potential Head and Shoulders Pattern

XAUUSD Daily Analysis

Geopolitical Tensions Ease, Market Focuses on US Data

Easing geopolitical tensions have reduced the appeal of gold, while the market is nearly certain that the Fed will maintain interest rates at this week’s meeting, supported by high inflation data.

Potential Head and Shoulders Pattern

There is a potential head and shoulders pattern on the H1 timeframe. Sell opportunities can be sought if there is a breakthrough below the neckline area.

Prediction: WEAK XAUUSD

Resistance Levels

  • R1: 2353.66
  • R2: 2326.02
  • R3: 2363.04
  • R4: 2372.94

Support Levels

  • S1: 2326.02
  • S2: 2353.66
  • S3: 2319.37
  • S4: 2304.70

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