XAUUSD Forex Analysis for Today, Monday (22-07-2024)
Time to Target BUY XAUUSD: Still Held by Strong Support, Ready for Up Trend!
Analysis XAUUSD
USD Weakens After Biden Steps Down
USD weakened after US President Joe Biden announced that he is withdrawing from the 2024 presidential election. Biden endorses Vice President Kamala Harris to run in his place. The reaction in the forex market was relatively calm with a weaker USD.
Price Held by Support
Price is held by strong support and pulled back on the H1 time frame. BUY opportunities are available now after price pullback and breaks the nearest resistance as a confirmation of a trend reversal to an uptrend.
Prediction: STRONG XAUUSD
Resistance
- R1 2391.41
- R2 2419.77
- R3 2429.18
- R4 2443.95
Support
- S1 2360.00
- S2 2370.00
- S3 2380.00
- S4 2390.00
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