XAUUSD Forex Analysis for Today, Monday (10-06-2024)

XAUUSD Forex Analysis for Today, Monday (10-06-2024)

XAUUSD Forex Analysis for Today, Monday (10-06-2024)

XAUUSD Plunges! SELL if Support Breaks

XAUUSD Analysis

US NFP Exceeds Expectations

Gold prices plummeted hit by two factors: improving US NFP data and bearish sentiment from China. The US NFP data announced an increase of 272 thousand, triggering dollar strength and expectations that the Fed may further delay interest rate cuts. Bearish sentiment was also triggered by data showing a decrease in gold purchases from top Chinese consumers in May.

Sell if Support Breaks

XAUUSD is under pressure and testing the support area. Selling opportunities can be taken if there is a valid breakthrough below the support area.


Resistance Levels

  • R1 2325.72
  • R2 2306.20
  • R3 2332.31
  • R4 2342.70

Support Levels

  • S1 2285.42
  • S2 2306.20
  • S3 2270.97
  • S4 2259.82

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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