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