XAUUSD Forex Analysis for Today, Tuesday (18-06-2024)

XAUUSD Forex Analysis for Today, Tuesday (18-06-2024)

XAUUSD Forex Analysis for Today, Tuesday (18-06-2024)

Potential to SELL XAUUSD Today: Held in Channel, Continuing Down Trend!

XAUUSD Analysis

USD Remains Strong

The US Dollar (USD) remains strong against other major currencies, with the US Dollar Index maintaining moderate gains. With no high-level macroeconomic data releases, gold prices are expected to remain under pressure.

Held in Channel, Ready to Continue the Trend

Prices are held in the channel and have the potential to pull back to continue their trend on the H4 time frame. Selling opportunities are available as long as prices do not break the channel area and its resistance.

Prediction: WEAK XAUUSD

Resistance Levels

  • R1 2353.59
  • R2 2327.85
  • R3 2368.41
  • R4 2383.22

Support Levels

  • S1 2327.85
  • S2 2353.59
  • S3 2305.27
  • S4 2291.87

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