XAUUSD Forex Analysis for Today – Thursday, November 2, 2023
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XAUUSD Held at Support, Potential for Rebound
Analysis of XAUUSD – The weakening of the US dollar following the Fed meeting has impacted the movement of XAUUSD. XAUUSD has the potential to rebound.
Today’s Trading Strategy:
There is an opportunity to BUY XAUUSD today as long as it does not fall below the lower range of 1967.32 – 1960.87, with the potential to rise towards the range of 1990.30 – 1995.08.
Alternatives:
A breakthrough of the support area at 1956.19 – 1951.91 has the potential to push XAUUSD down towards the range of 1956.19 – 1951.91.
Resistance Levels
- R1: 1995.08
- R2: 2011.11
- R3: 2026.89
Support Levels
- S1: 1960.87
- S2: 1951.91
- S3: 1951.87
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