XAUUSD Forex Analysis for Today, Wednesday (26-06-2024)
XAUUSD Still Has SELL Potential: Bearish Flag Confirmed!
XAUUSD Analysis
Dollar Strengthens Ahead of Inflation Data
Gold prices came under pressure after CB Consumer Confidence data was released better than expected. The USD and US bond yields also strengthened as the market awaits US inflation data to be released this week. This data could provide clues about when the Fed will start cutting interest rates.
Bearish Flag Confirmed
Prices still have SELL potential after the bearish flag pattern is confirmed on the H1 time frame. SELL opportunities can be sought if a pullback occurs to the lower line area of the flag pattern.
Prediction: WEAK XAUUSD
Resistance
- R1 2360.00
- R2 2341.14
- R3 2325.77
- R4 2321.19
Support
- S1 2341.14
- S2 2310.35
- S3 2296.16
- S4 2280.66
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. Exness South africa is not responsible for any losses that may arise from the use of this analysis.