XAUUSD Forex Analysis for Today, Wednesday(22-05-2024)

XAUUSD Forex Analysis for Today, Wednesday(22-05-2024)

XAUUSD Forex Analysis for Today, Wednesday(22-05-2024)


Still in Uptrend! Look for BUY Opportunities in XAUUSD Again!

XAUUSD Analysis

Gold Still Supported by Safe-Haven Status

Gold prices remain stable near all-time highs, supported by a stable USD and staying above the $2,400 area due to its safe-haven status and the anticipation of Fed rate cuts.

Still in Uptrend

Gold prices are still moving in an uptrend above the rising trendline seen on the H1 time frame. Buying opportunities can be sought if a correction occurs to the trendline or the nearest support area.


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

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.

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