BUY Opportunity on XAUUSD: Symmetrical Triangle Potential ~ 90% Rebate Exness Everyday

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BUY Opportunity on XAUUSD: Symmetrical Triangle Potential

XAUUSD Analysis

Gold has corrected following the release of the US Non-Farm Payrolls (NFP) data. The report showed an increase in job numbers exceeding expectations, while the unemployment rate slightly declined. This data reduced expectations for a 50 basis point interest rate cut by the Federal Reserve next month.

Symmetrical Triangle Potential

A symmetrical triangle pattern seems to be forming on the H1 time frame. The price is currently approaching the lower line of this potential pattern.

Prediction: STRONG XAUUSD

Trade Plan:

BUY AREA: 2646.12 – 2637.70
Stop Loss (SL): 2621.65
Take Profit 1 (TP1): 2662.58
Take Profit 2 (TP2): 2682.45
Take Profit 3 (TP3): 2702.49