Market Analysis of XAUUSD on Thursday 12 October 2023

2023-10-12 13:24Source:BtcDana

XAUUSD TECHNICAL ANALYSIS SHORT TERM VIEW     

 XAUUSD completed or near to completion wave 4 and its last wave 5 should go for 2100 level without touch 1710 level.Short term purpose it change the trend and closed 1 hour candle above resistance .Now trend is positive and it should rally upside towards 1947 level without touch 1810 level.Short term support  1845 to 1865 level is  good buying area for upside rally.

 QUICK FUNDAMENTAL LOOK                                                                     

Gold firms ahead of US CPI data on cautious Fed approach,US dollar and bond yields hover near two-week lows,US CPI data for September due at 1230 GMT.

POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.

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