XAUUSD Forex Analysis for Today, Friday (17-05-2024)
XAUUSD Corrected to Support Area, Look for Buying Opportunities Again!
XAUUSD Analysis
Gold Corrected Due to Profit-taking
The correction occurred due to profit-taking and USD strengthening, but the prospects of Fed interest rate cuts and the geopolitical situation in the Middle East are still restraining the correction.
Monitor Support Area
Prices are still held at the resistance area in the H1 timeframe. Buying opportunities can be sought in the support area.
Prediction: STRONG XAUUSD
Resistance
- R1 2378.44
- R2 2366.06
- R3 2383.79
- R4 2388.99
Support
- S1 2366.06
- S2 2378.44
- S3 2359.02
- S4 2351.57
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