XAUUSD Forex Analysis for Today, Wednesday (25-10-2023)

XAUUSD Forex Analysis for Today, Wednesday (25-10-2023)

XAUUSD Forex Analysis for Today, Wednesday (25-10-2023)

XAUUSD Rebounds After Brief Bearish Pressure

XAUUSD Analysis – The strength of the US dollar is impacting the movement of XAUUSD, where XAUUSD briefly faced pressure but failed to break below the support area.

Today’s Trading Strategy:

There is a potential to BUY XAUUSD today as long as it doesn’t break below the 1946.64 – 1941.56 area, with the potential to rise to the 1978.93 – 1983.58 area.

Alternative:

If the support area of 1946.64 – 1941.56 is breached, it could potentially push XAUUSD down to the 1913.81 – 1911.51 area.

Resistance

  • R1 1983.58
  • R2 1998.77
  • R3 2010.44

Support

  • S1 1941.56
  • S2 1911.51
  • S3 1899.88
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