XAUUSD Forex Analysis for Today, Tuesday (28-05-2024)

XAUUSD Forex Analysis for Today, Tuesday (28-05-2024)

Prepare to SELL: Potential BEARISH FLAG in XAUUSD

Analysis of XAUUSD
Market Monitors UK Inflation Data
Gold rose amid thin trading volume due to holidays in the US and UK. The market is still awaiting US inflation data this week, which will serve as a reference for the potential direction of the Fed’s interest rate policy.

Potential Bearish Flag

There is a potential formation of a bearish flag pattern on the H1 time frame. The pattern will be confirmed if the lower line is breached, but sell opportunities can also be sought in the resistance area or upper line of the pattern.


Resistance Levels:

  • R1: 2359.12
  • R2: 2346.26
  • R3: 2367.04
  • R4: 2375.88

Support Levels:

  • S1: 2351.20
  • S2: 2361.57
  • S3: 2346.26
  • S4: 2332.60

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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