XAUUSD forex analysis for today, Monday(03-06-2024)

XAUUSD forex analysis for today, Monday(03-06-2024)

XAUUSD Testing Support Again, Look for Sell on Breakout

Analyze XAUUSD

Dallas Fed President: Too Soon to Cut Rates

The market is still digesting US inflation data, which shows slight progress towards the Fed’s 2 percent target. However, Dallas Fed President Lorie Logan stated that it is still too early to consider cutting interest rates.

Testing Support Area

XAUUSD is still testing the support area. Selling opportunities can be considered if there is a breakout below the support area.

Prediction: WEAK XAUUSD

  • Resistance
    • R1 2349.16
    • R2 2333.45
    • R3 2358.91
    • R4 2369.93
  • Support
    • S1 2317.99
    • S2 2333.45
    • S3 2308.88
    • S4 2297.80



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