XAUUSD Forex Analysis for Today, Monday (20-05-2024)

XAUUSD Forex Analysis for Today, Monday (20-05-2024)

XAUUSD Forex Analysis for Today, Monday (20-05-2024)

XAUUSD Continues to Rise! Look for Buy Opportunities!

XAUUSD Analysis

Gold Boosted by China Stimulus and Middle East Geopolitics

The tense geopolitical situation in the Middle East and China’s stimulus are pushing gold higher again. China is one of the largest consumers of precious metals. The potential for Fed rate cuts also continues to provide a bullish sentiment for gold.

Watch the Resistance Area

Price is still held at the resistance area on the H1 timeframe. The chances of a buy opportunity will increase if a breakout above resistance occurs.



  • R1 2428.50
  • R2 2409.68
  • R3 2439.56
  • R4 2449.13


  • S1 2367.30
  • S2 2399.73
  • S3 2351.98
  • S4 2332.04

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