XAUUSD Forex Analysis for Today, Tuesday (18-06-2024)
Potential to SELL XAUUSD Today: Held in Channel, Continuing Down Trend!
XAUUSD Analysis
USD Remains Strong
The US Dollar (USD) remains strong against other major currencies, with the US Dollar Index maintaining moderate gains. With no high-level macroeconomic data releases, gold prices are expected to remain under pressure.
Held in Channel, Ready to Continue the Trend
Prices are held in the channel and have the potential to pull back to continue their trend on the H4 time frame. Selling opportunities are available as long as prices do not break the channel area and its resistance.
Prediction: WEAK XAUUSD
Resistance Levels
- R1 2353.59
- R2 2327.85
- R3 2368.41
- R4 2383.22
Support Levels
- S1 2327.85
- S2 2353.59
- S3 2305.27
- S4 2291.87
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