XAUUSD Forex Analysis – Monday (06-05-2024)

XAUUSD Forex Analysis – Monday (06-05-2024)

XAUUSD Forex Analysis for Today – Monday (06-05-2024)

Visit XAUUSD Forex Analysis

XAUUSD Tests Resistance Area, Seeking Sell Opportunities

XAUUSD Analysis

Profit Taking Influences Price Movement

Gold initially rose despite worse-than-expected US NFP data. The decline in gold prices continued due to profit-taking actions by market participants and the easing of geopolitical tensions in the Middle East.

Resistance Test

Price increases are once again held back by the resistance area. Sell opportunities can be sought at this resistance area.

Prediction: WEAK XAUUSD

Resistance Levels

  • R1: 2334.98
  • R2: 2305.05
  • R3: 2344.61
  • R4: 2360.65

Support Levels

  • S1: 2305.05
  • S2: 2334.98
  • S3: 2298.84
  • S4: 2282.37

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.

 forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast

Leave a Reply

Your email address will not be published. Required fields are marked *