XAUUSD Forex Analysis for Today – Wednesday (24-01-2024)
Consolidation Creates Opportunity: Gold Potential Double Top!
Fed Interest Rate Expectations Still Pressuring Gold
Gold is still maintaining its previous gains, with the market anticipating signals of a potential decrease in US interest rates. Investors are awaiting US economic data such as the US PMI report, fourth-quarter GDP estimates, and consumption expenditure data, which are the focus of this week.
Double Top Formation, Still Potential for Downward Movement
Gold prices show the potential Double Top pattern on the H1 time frame, still opening opportunities to signal another sell.
Prediction: WEAK GOLD
Resistance Levels
- R1: 2041.00
- R2: 2030.40
- R3: 2054.00
- R4: 2060.00
Support Levels
- S1: 2030.00
- S2: 2041.00
- S3: 2026.00
- S4: 2015.00
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