XAUUSD Forex Analysis for Today, Tuesday(21-05-2024)

XAUUSD Forex Analysis for Today, Tuesday(21-05-2024)

XAUUSD Forex Analysis for Today, Tuesday(21-05-2024)


XAUUSD Hits All-Time High, Look for More Buy Opportunities!

XAUUSD Analysis

Gold Touches All-Time High Again

A combination of expectations for Fed rate cuts, Chinese stimulus, and geopolitical tensions in the Middle East has driven gold prices to a new all-time high yesterday.

Still in Uptrend

Gold prices are still moving in an uptrend above the rising trendline visible on the H1 time frame. Buying opportunities can be sought if there is a correction to the trendline area or the nearest support.


Resistance Levels:

  • R1 2408.83
  • R2 2392.84
  • R3 2418.27
  • R4 2436.74

Support Levels:

  • S1 2366.89
  • S2 2383.44
  • S3 2354.70
  • S4 2345.12

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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