XAUUSD Forex Analysis for Today, Thursday (19-10-2023)
XAUUSD Displays a Bullish Bias, Look for Buying Confirmation
XAUUSD Analysis – Increasing demand for a safe haven continues to influence the movement of XAUUSD, where XAUUSD is once again rising towards the resistance area of 1957.70 – 1967.20.
Today’s Trading Strategy:
There is an opportunity to BUY XAUUSD today as long as it doesn’t break below the range of 1935.80 – 1927.00, with the potential to rise to the area of 1957.70 – 1967.20.
Alternatives:
A breakthrough of the support area of 1935.80 – 1927.00 could potentially push XAUUSD down to the area of 1909.87 – 1907.01.
Resistance Levels:
- R1 1967.20
- R2 1985.26
- R3 1992.30
Support Levels:
- S1 1927.00
- S2 1907.01
- S3 1892.33
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