Forecast for XAUUSD 29 August 2022 for Fundamental Analysis and Technical Analysis

1) Jay Powell(FED)statement is hawkish and lead to 50 to 75 bps in September.

2) Oil prices ended higher on Friday boosted by signals from Saudi Arabia that OPEC could cut output but trading is volatile. Investors are focusing on Fed statement.

USD will strengthen.

Range price for fundamental analysis is 1750-1776

XAUUSD : The trend is Bearish

Technical Analysis

At daily timeframe:

Resistance area is between 1774.10- 1807.93 and Resistance area :1771- 1806

Support area : 1784.80-1697.70,and Support area : 1700- 1745

Seek for sell or buy opportunity , entry at lower timeframe to enter self confirmation based on your own technical analysis understanding.

Sources from Investing.com and Forexfactory.com

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Disclaimer : This analysis is based on Investing.com and Forexfactory.com. You may follow based on your own discreetion.

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