XAUUSD forex analysis for today, Wednesday(20-03-2024)






XAUUSD forex analysis for today, Wednesday(20-03-2024)

XAUUSD Currency Pair Analysis for Today

Explore the analysis for XAUUSD currency pair for today, Wednesday(20-03-2024).

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Selling Opportunity for XAUUSD Now! Prepare for Pull Back

Daily Analysis for XAUUSD

Gold Closed Weaker, Volatility Decreased

Gold closed weaker amid the resurgence of Dollar demand. Volatility decreased as investors prepare for The Fed’s announcement on Thursday at 01:00 WIB along with new economic projections. There is a high possibility that the interest rate cut will be postponed at the upcoming FOMC meeting, which could potentially cause a significant decline in gold prices.

Held in Down Trend Channel

Gold prices are still consolidating within the down trend channel area and are held at resistance on the H4 time frame. Look for selling opportunities at that resistance area.

Prediction: WEAK XAUUSD

Resistance Levels

  • R1 2171.40
  • R2 2161.62
  • R3 2177.42
  • R4 2183.40

Support Levels

  • S1 2161.62
  • S2 2171.40
  • S3 2151.33
  • S4 2145.76


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