XAUUSD Forex Analysis for Today, Friday (08-12-2023)

XAUUSD Consolidation, Utilize Breakouts

Analysis of XAUUSD – Weakness in the US dollar continues to pressure XAUUSD but has yet to successfully break the support, leading XAUUSD to consolidate.

Today’s Trading Strategy:

• BUY STOP @2035.00
• Target: 2050.00 – 2052.00
• Alternative:
• SELL STOP @2015.00
• Target: 2000.00 – 1995.00

Resistance Levels

• R1 2015.00
• R2 2000.00
• R3 1995.00

Support Levels

• S1 2035.00
• S2 2050.00
• S3 2052.00

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