XAUUSD Correction, Time to Buy on Dip

Analysis of XAUUSD – XAUUSD is entering a corrective phase, with bullish tendencies still influencing its movement.

Today’s Trading Strategy:

Potential to BUY XAUUSD today as long as it does not breach the lower area of 1945.24 – 1942.53, with the possibility of rising towards the range of 1973.36 – 1975.79.

Alternatives:

A breakthrough of the support area at 1945.24 – 1942.53 might pressure XAUUSD towards the zone of 1930.03 – 1927.39.

Resistance Levels:

• R1: 1975.79
• R2: 1989.54
• R3: 2004.89

Support Levels:

• S1: 1942.53
• S2: 1927.39
• S3: 1911.64

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