XAUUSD Forex Analysis – Tuesday(02-01-2024)

XAUUSD Forex Analysis – Tuesday(02-01-2024)

XAUUSD Forex Analysis for Today

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Alert! Emergence of Inverse HNS Supporting XAUUSD Uptrend

XAUUSD Analysis: There’s a potential reversal pattern forming for XAUUSD. Based on the H1 timeframe chart, an inverse head and shoulder pattern has formed, providing support for the uptrend of XAUUSD.

Today’s Trading Strategy:

  • BUY at Range 2070.00 – 2064.00
  • Target: 2080.00 – 2084.00
  • Alternative:
  • SELL STOP @2058.00
  • Target: 2048.00 – 2042.00

Resistance Levels

  • R1 2058.00
  • R2 2048.00
  • R3 2042.00

Support Levels

  • S1 2070.00
  • S2 2064.00
  • S3 2080.00
  • S4 2084.00

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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