How To Make Money Today: Daily Gold (XAUUSD) Market Analysis and Forex Trading Signals 11 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 have approached a strong graphical overlap and resistance, and are also consolidating in a triangle. We see the potential for a dip from 1st resistance at 1834.195 in line with 61.8% Fibonacci extension and 78.6% Fibonacci retracement towards our 1st support at 1792.359 in line with 61.8% Fibonacci retracement. RSI are at levels where dips previously occurred and also prices are trading below our ichimoku cloud support, further supporting our bearish bias. On the daily, prices were on bullish momentum and currently at a strong graphical overlap and resistance. We see the potential for a dip from our 1st resistance at 1828.775 in line with 61.8% Fibonacci retracement towards our 1st support at 1805.840 in line with 61.8% Fibonacci retracement. RSI is at levels where dips previously occurred, backing our bearish bias.

On the H4 chart, prices are at a pivot and strong graphical overlap resistance. We see potential for a pullback from our 1st resistance at 1836.379 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci extension towards our 1st support at 1824.397 in line with 23.6% Fibonacci retracement and 38.2% Fibonacci retracement. RSI are at levels where dips previously occurred.

Areas of consideration:

  • 4h 1st support at 1826.785
  • 4h 1st resistance at 1837.740
xauusd chart

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