XAUUSD Forex Analysis for Today, Friday (27-10-2023)

Bullish Bias in XAUUSD, Pay Attention to Resistance Area

Analysis of XAUUSD – The increasing demand for a safe haven is influencing the movement of XAUUSD, where XAUUSD is once again heading up towards the resistance area.

Today’s Trading Strategy:

There is an opportunity to BUY XAUUSD today if it breaks above the area of 1992.03 – 1998.77, with the potential to rise to the area of 2010.17 – 2017.09.

Alternatives:

If the resistance area at 1992.03 – 1998.77 fails to be breached, it has the potential to push XAUUSD down to the area of 1967.32 – 1960.87.

Resistance Levels:

R1 1998.77
R2 2010.17
R3 2017.09

Support Levels:

S1 1960.87
S2 1951.91
S3 1934.78