XAUUSD Forex Analysis for Today, Thursday (30-05-2024)

XAUUSD Forex Analysis for Today, Thursday (30-05-2024)

Potential XAUUSD Sell: BEARISH FLAG Confirmed

Analysis of XAUUSD
USD Strength Pressures Gold
Gold prices are under pressure due to a stronger USD as US Treasury yields rise and hawkish comments from Minneapolis Fed President Neel Kashkari, who indicated there is still a possibility for a Fed rate hike. He also predicted that rate cuts this year will not exceed two times.

Bearish Flag Confirmed

A bearish flag pattern has been confirmed on the H1 timeframe. Sell opportunities can be sought at the nearest resistance area.


Resistance Levels:

  • R1: 2372.58
  • R2: 2353.95
  • R3: 2383.61
  • R4: 2395.41

Support Levels:

  • S1: 2347.88
  • S2: 2353.95
  • S3: 2332.10
  • S4: 2325.88

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.

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