XAUUSD Forex Analysis for Today, Friday (14-06-2024)
Selling Opportunity for XAUUSD: Bearish Flag Confirmed
XAUUSD Analysis
USD Still Strong After Hawkish Fed Stance
USD continues to strengthen despite weaker-than-expected US PPI data. The USD strengthening is driven by the Fed’s hawkish statement, predicting only one interest rate cut this year, likely in December.
Bearish Flag Confirmed
A bearish flag pattern has been confirmed on the H1 timeframe. Prices are testing the support area again. Selling opportunities can be considered if there is another break below the support area.
Prediction: WEAK XAUUSD
Resistance Levels
- R1 2327.64
- R2 2280.76
- R3 2342.69
- R4 2359.38
Support Levels
- S1 2280.76
- S2 2327.64
- S3 2259.82
- S4 2239.31
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