XAUUSD Forex Analysis for Today, Friday(24-05-2024)
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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.
Forecast: WEAK XAUUSD
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
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