XAUUSD Forex Analysis for Today
Wednesday(07-02-2024)
Still Opportunity to SELL GOLD: Resistance Holds
Daily Analysis XAUUSD
Dollar Correction, Gold Rise
Gold strengthens amid the correction in USD and Treasury yield, while the market awaits statements from Fed officials this week for clues about interest rate cuts later this year.
Resistance Area Holds
After breaking the trendline, gold prices pull back and are once again held in the resistance area. Monitor the resistance area for further confirmation of sell signals. Stay alert if prices move back above the trendline, as it could change the intraday bias to bullish.
Prediction: WEAK GOLD
Resistance and Support Levels
Resistance
- R1 2052.13
- R2 2038.31
- R3 2056.86
- R4 2065.43
Support
- S1 2038.31
- S2 2052.13
- S3 2034.21
- S4 2028.03
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