XAUUSD Forex Analysis for Today, Friday(24-05-2024)

XAUUSD Forex Analysis for Today, Friday(24-05-2024)

XAUUSD Forex Analysis for Today, Friday(24-05-2024)


Prepare for XAUUSD Downtrend! Get Ready to Look for SELL Opportunities Again!

XAUUSD Analysis

USD Strengthens, US Business Activity Increases

Gold fell to its lowest level in a week. The USD strengthened following a survey of US business activity by S&P Global, which showed an increase to the highest level in over two years. The US S&P Global Composite PMI rose to 54.4 in May, the highest since April 2022.

Sell Opportunities If Support is Broken

Gold prices continue to be under pressure and are testing the support area. Sell opportunities can be sought again if there is a breakthrough below the support.


Resistance Levels:

  • R1 2379.73
  • R2 2352.98
  • R3 2397.04
  • R4 2409.14

Support Levels:

  • S1 2325.25
  • S2 2352.98
  • S3 2307.76
  • S4 2292.70

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.

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