How To Make Money Today: Daily Gold (XAUUSD) Market Analysis and Forex Trading Signals 28 January 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first, and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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XAU/USD (GOLD):

On the weekly, prices are consolidating in a triangle and are approaching our 1st support. We see the potential for a bounce from our 1st support at 1784.333 in line with 61.8% Fibonacci retracement towards our 1st resistance at 1848.842 in line with 78.6% Fibonacci retracement. RSI are at levels where bounces previously occurred. On the daily, prices are consolidating in a triangle and are approaching our 1st support. We see the potential for a bounce from our 1st support at 1787.527 in line with 38.2% Fibonacci retracement towards our 1st resistance at 1828.775 in line with 61.8% Fibonacci extension. RSI are at levels where bounces previously occurred.

On the H4 chart, prices are on bullish momentum and consolidating in a parallel channel. We see a potential for a bounce from our 1st support at 1791.575 in line with 127.2% Fibonacci extension towards our 1st resistance at 1810.121 which is a graphical overlap. RSI are at overbought extremes, further supporting our bullish bias.

Areas of consideration:

4h 1st support at 1791.575

4h 1st resistance at 1810.121

xauusd technical analysis

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