XAUUSD Forex Analysis for Today, Wednesday (15-05-2024)
XAUUSD Prices Held at Resistance: Look for SELL Opportunities!
XAUUSD Analysis
Gold Awaits US CPI Data
Gold prices initially strengthened due to a weaker USD and geopolitical tensions in the Middle East, but the market’s current focus is on the upcoming US CPI data, which is expected to increase. Yesterday, Powell mentioned that he is not convinced disinflation has occurred and expects GDP to rise by 2 percent or more.
Prices Held at Resistance
Prices are held by the resistance area in the H1 time frame. Sell opportunities can be sought in this resistance area.
Prediction: WEAK XAUUSD
Resistance
- R1 2364.66
- R2 2349.41
- R3 2369.25
- R4 2377.39
Support
- S1 2349.41
- S2 2364.66
- S3 2344.70
- S4 2338.86
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