XAUUSD Forex Analysis for Today, Friday (03-11-2023)
XAUUSD Consolidation, Attempt to Break Resistance
XAUUSD analysis – The correction of the US dollar ahead of NFP is affecting the movement of XAUUSD. XAUUSD is rebounding, testing the resistance area.
Today’s Trading Strategy:
There is an opportunity to SELL XAUUSD today as long as it does not break above the range of 1988.74 – 1993.00, with the potential to drop to the range of 1973.04 – 1968.03.
Alternative:
If there is a breakthrough above the resistance area of 1988.74 – 1993.00, it could potentially push XAUUSD up to the range of 2004.93 – 2011.11.
Resistance Levels:
- R1 1993.00
- R2 2011.11
- R3 2026.89
Support Levels:
- S1 1968.03
- S2 1951.91
- S3 1944.55
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