Market Analysis of XAUUSD on Friday 11 August 2023

2023-08-11 20:44Fonte:BtcDana

XAUUSD TECHNICAL ANALYSIS SHORT TERM VIEW   

 XAUUSD has made double zigzag correction at level of  1892.50 so it has to fall below 1892.50.Stop loss is 1987.50 and straight target is 1892.50 .Strong resistance area is 1932 to 1942 levels. .Trend is negative presently  selling with stop loss 1952 for downside direction targets1920,1915 respectively.

 QUICK FUNDAMENTAL LOOK                                                                     

Gold firms on softer dollar as US inflation test looms.Gold firmed on Thursday buoyed by a softer dollar but was hemmed into a relatively tight range as traders positioned for U.S. inflation readings that could steer the Federal Reserve's monetary policy.

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

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