XAUUSD Currency Pair Analysis for Today
Explore the analysis for XAUUSD currency pair for today, Wednesday(20-03-2024).
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Selling Opportunity for XAUUSD Now! Prepare for Pull Back
Daily Analysis for XAUUSD
Gold Closed Weaker, Volatility Decreased
Gold closed weaker amid the resurgence of Dollar demand. Volatility decreased as investors prepare for The Fed’s announcement on Thursday at 01:00 WIB along with new economic projections. There is a high possibility that the interest rate cut will be postponed at the upcoming FOMC meeting, which could potentially cause a significant decline in gold prices.
Held in Down Trend Channel
Gold prices are still consolidating within the down trend channel area and are held at resistance on the H4 time frame. Look for selling opportunities at that resistance area.
Prediction: WEAK XAUUSD
Resistance Levels
- R1 2171.40
- R2 2161.62
- R3 2177.42
- R4 2183.40
Support Levels
- S1 2161.62
- S2 2171.40
- S3 2151.33
- S4 2145.76
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