XAUUSD Forex Analysis for Today – Monday (24-06-2024)
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XAUUSD SELL Potential: Breaking the Trendline!
Analysis of XAUUSD
Gold Weakens Amid Dollar Strength
Gold prices weakened by more than 1 percent on Friday, pressured by the strengthening dollar and rising US government bond yields after data showed a rise in US business activity.
Monitor the Trendline Area
Prices have broken below the rising trendline seen on the M30 time frame. Selling opportunities can be explored if there is a retracement to that trendline area.
Forecast: WEAK XAUUSD
Resistance Levels
- R1: 2360.00
- R2: 2354.30
- R3: 2340.00
- R4: 2332.25
Support Levels
- S1: 2354.50
- S2: 2307.63
- S3: 2288.01
- S4: 2269.88
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