XAUUSD Forex Analysis – Wednesday(07-02-2024)

XAUUSD Forex Analysis – Wednesday(07-02-2024)

XAUUSD Forex Analysis for Today


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


  • R1 2052.13
  • R2 2038.31
  • R3 2056.86
  • R4 2065.43


  • S1 2038.31
  • S2 2052.13
  • S3 2034.21
  • S4 2028.03

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