Market Analysis of XAUUSD on Friday 8 September 2023

2023-09-08 12:50Fonte:BtcDana

XAUUSD TECHNICAL ANALYSIS SHORT TERM VIEW      

 XAUUSD has strong resistance 1931 to 1960 levels and it can fall towards 1914 levels without touch 1953 level .Overall trend is negative and as long as it holds resistance it can fall towards 1800 level as well.Inner calculations suggesting for intraday purpose 1931 stop loss and resistance area is 1922 to 1927 and it can fall below 1914 level . For purpose of intraday we can sell it presently with stop loss 1953 expecting downside 1922 , 1919 and final target 1914 easily.

 QUICK FUNDAMENTAL LOOK                                                                     

Gold firmed on Friday as the dollar retreated from highs but the bullion was still en route to a weekly fall as traders looked beyond a widely expected pause by the Federal Reserve this month to focus on persistently resilient U.S. data.

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

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