XAUUSD Forex Analysis – Friday (26-04-2024)

XAUUSD Forex Analysis – Friday (26-04-2024)

XAUUSD Forex Analysis for Today – Friday (26-04-2024)

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Prepare to Look for SELL Opportunities in XAUUSD, Fed Expected to Delay Rate Cuts

XAUUSD Daily Analysis

Inflation Hinders Fed Rate Cuts

The US Core PCE data tonight has the potential to rise. Although US economic growth in the first quarter was slower than expected, the potential for inflation to rise could hinder the Fed from cutting interest rates before September. High interest rates could reduce the attractiveness of holding gold, which does not yield returns.

Price Still in Consolidation Phase

Gold prices are still consolidating. Sell opportunities can be sought if there is a breakthrough below the support level.

Prediction: WEAK XAUUSD

Resistance Levels

  • R1: 2346.24
  • R2: 2309.17
  • R3: 2356.58
  • R4: 2380.19

Support Levels

  • S1: 2309.17
  • S2: 2346.24
  • S3: 2298.89
  • S4: 2272.65

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