XAUUSD Forex Analysis for Today, Tuesday(21-05-2024)
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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.
Forecast: STRONG XAUUSD
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
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