XAUUSD Forex Analysis for Today, Thursday (26-10-2023)
XAUUSD Consolidation, Bullish Sentiment Looming
XAUUSD Analysis – The strengthening of the US dollar is influencing the movement of XAUUSD. XAUUSD was briefly under pressure but failed to break through towards the support area.
Today’s Trading Strategy:
There is an opportunity to BUY XAUUSD today as long as it doesn’t break below the range of 1956.19 to 1951.91, with the potential to rise to the area between 1993.47 and 1998.77.
Alternative:
If the support area of 1956.19 to 1951.91 is breached, it has the potential to push XAUUSD down to the range of 1936.23 to 1929.28.
Resistance Levels
- R1: 1998.77
- R2: 2010.17
- R3: 2017.09
Support Levels
- S1: 1951.91
- S2: 1929.28
- S3: 1917.20
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