XAUUSD Forex Analysis for Today, Monday (19-08-2024)
Potential BUY XAUUSD: Monitor the Trendline Area
XAUUSD Analysis
Gold Reaches All-Time High
Gold prices have once again reached a record high due to increasing expectations of a rate cut by the Fed in September, coupled with rising tensions in the Middle East.
Monitor the Trendline Area
The price continues to move above the upward trendline visible on the H1 time frame. A buy opportunity can be considered if a correction occurs toward the trendline area.
Forecast: STRONG XAUUSD
Resistance Levels:
- R1: 2429.22
- R2: 2482.41
- R3: 2509.16
- R4: 2535.58
Support Levels:
- S1: 2420.00
- S2: 2460.00
- S3: 2500.00
- S4: 2540.00
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