Market Analysis of XAUUSD on Friday 23 AUGUST 2024

2024-08-23 16:55Source:BtcDana

XAUUSD  TECHNICAL ANALYSIS SHORT TERM VIEW

   

15 minute chart showing calculations it is running in positive trend and stop loss is 2455 level . It can rise towards 2600 level in short term .Intraday purpose buying is better with stop loss 2455 level expecting intraday targets 2501, 2504 and 2507 levels respectively . Strong support area is 2474 to2496 level . 5 min chart made ABC pattern and immediate trend changed and now gold looking to rally towards 2517 level .

QUICK FUNDAMENTAL LOOK

                                                                   

Gold firmed up to near $2,490 per ounce on Friday, after retreating from record levels to fall over 1% in the previous session, as markets braced for Fed Chair Jerome Powell’s speech at the Jackson Hole symposium later in the day.


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

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