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.
Forecast: WEAK XAUUSD
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
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