XAUUSD Forex Analysis for Today, Tuesday(20-02-2024)

XAUUSD Forex Analysis for Today, Tuesday(20-02-2024)

XAUUSD Still Stalled at Resistance, Still Opportunity to SELL

Daily Analysis XAUUSD

Gold Lifted Middle East Situation

Gold prices were lifted due to the correction in the USD and increased tension in the Middle East, following an attack on a cargo ship in the Bab al-Mandab strait.

Stalled at Resistance Area

Gold prices are still stalled in the resistance area despite a breakthrough above the trendline. There is still a possibility of a correction to the trendline or resistance area.

Prediction: WEAK GOLD

Resistance

  • R1 2037.29
  • R2 2020.13
  • R3 2049.65
  • R4 2063.03

Support

  • S1 2020.13
  • S2 2037.29
  • S3 2008.82
  • S4 1989.46
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