How To Make Money Today: Daily Gold (XAUUSD) Market Analysis and Forex Trading Signals 07 March 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 H4 chart, prices are on strong bullish momentum and abiding to our ascending trendline support. We see potential for prices to dip from our 1st resistance at 1999.069 in line with 61.8% Fibonacci extension and 127.2% Fibonacci Projection towards our 1st support at 1958.513 in line with 50% Fibonacci retracement. RSI is at levels where dips previously occurred, further supporting our bearish bias.

Areas of consideration:

4h 1st support at 1958.513
4h 1st resistance at 1999.069

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