XAUUSD Forex Analysis for Today, Wednesday (17-07-2024)
Go BUY XAUUSD! Breaks New ALL TIME HIGH!
Analysis XAUUSD
Fed Might Cut Rates in September
Gold prices hit a new all-time high due to expectations that the Fed will cut interest rates earlier in September. According to CME Group, 93 percent of market participants believe the Fed will start cutting rates in September.
Monitor Trendline Area
The trendline area intersecting with the break of structure level in the H1 time frame should be monitored. Buying opportunities can be taken if a correction occurs in that area.
Forecast: STRONG XAUUSD
Resistance
- R1 2417.21
- R2 2463.13
- R3 2487.81
- R4 2510.06
Support
- S1 2375.00
- S2 2400.00
- S3 2425.00
- S4 2450.00
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