XAUUSD Forex Analysis for Today – Friday(23-02-2024)
Get Ready to SELL XAUUSD: Potential Broadening Formation
Daily Analysis XAUUSD
US Economic Data Quite Solid
Gold prices corrected from a two-week high yesterday after unemployment claims data showed that the US economy remains quite robust. The market is awaiting other economic data to guide the Fed’s next steps.
Potential Broadening Formation
There is a possibility that prices will move down with the potential broadening formation pattern on the H1 time frame. A breakthrough of support will confirm the pattern and open up selling opportunities.
Prediction: WEAK GOLD
Resistance
- R1 2026.50
- R2 2018.25
- R3 2030.28
- R4 2036.11
Support
- S1 2018.25
- S2 2026.50
- S3 2014.71
- S3 2008.88
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