How To Make Money Today: Daily Gold (XAUUSD) Market Analysis and Forex Trading Signals 4 February 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 have the potential to climb from our 1st support at 1813.845 which is a graphical overlap towards our 1st resistance at 1853.885 in line with 100% Fibonacci retracement. RSI is at levels where bounces previously occur.
On the daily, prices are consolidating in a triangle. We see potential for a bounce from our 1st support at 1806.42 in line with 38.2% Fibonacci retracement towards our 1st resistance at 1841.414 in line with 61.8% Fibonacci extension. Our bias is further supported by RSI at levels where bounces previously occurred.
On the H4 chart, prices areon bullish momentum and abiding to our ascending trendline support. We see potential for prices to bounce from our 1st support at 1805.545 towards our 1st resistance at 1810.814 in line with 61.8% Fibonacci extension. RSI are on bullish momentum.
Areas of consideration:
- 4h 1st support at 1805.545
- 4h 1st resistance at 1810.814
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