XAUUSD Forex Analysis for Today, Wednesday(22-05-2024)
Still in Uptrend! Look for BUY Opportunities in XAUUSD Again!
XAUUSD Analysis
Gold Still Supported by Safe-Haven Status
Gold prices remain stable near all-time highs, supported by a stable USD and staying above the $2,400 area due to its safe-haven status and the anticipation of Fed rate cuts.
Still in Uptrend
Gold prices are still moving in an uptrend above the rising trendline seen on the H1 time frame. Buying opportunities can be sought if a correction occurs to the trendline or the nearest support area.
Forecast: STRONG XAUUSD
Resistance Levels:
- R1 2408.83
- R2 2392.84
- R3 2418.27
- R4 2436.74
Support Levels:
- S1 2366.89
- S2 2383.44
- S3 2354.70
- S4 2345.12
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