XAUUSD Forex Analysis for Today, Wednesday(18-10-2023)

XAUUSD Forex Analysis for Today, Wednesday(18-10-2023)

XAUUSD Forex Analysis for Today, Wednesday(18-10-2023)

XAUUSD Trading Sideways, with a Bullish Outlook

XAUUSD Analysis – XAUUSD is moving sideways after a rally, and the current price is attempting to break through the resistance area.

Today’s Trading Strategy:

There is an opportunity to BUY XAUUSD today if it breaks above the range of 1928.45 – 1932.78, with the potential to rise to the range of 1945.96 – 1948.47.

Alternative:

A breakthrough of the support area of 1909.91 – 1907.06 has the potential to push XAUUSD down to the range of 1892.80 – 1887.71.

Resistance Levels:

  • R1: 1932.78
  • R2: 1948.47
  • R3: 1977.12

Support Levels:

  • S1: 1907.06
  • S2: 1887.71
  • S3: 1866.51
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