XAUUSD Forex Analysis for Today, Friday (08-09-2023)
XAUUSD Correction, Bearish Still Looming
Analysis of XAUUSD – The strengthening of the US dollar is affecting the movement of XAUUSD, where XAUUSD is moving downward but is still holding the support area of 1917.61 – 1912.01.
Today’s Trading Strategy:
There is a selling opportunity for XAUUSD today as long as it does not break above the 1927.89 – 1929.93 area, with the potential to decline to the area of 1917.61 – 1912.01.
Alternatives:
A breakthrough of the resistance area at 1927.89 – 1929.93 could potentially push XAUUSD up to the area of 1945.16 – 1946.66.
Resistance Levels:
- R1: 1929.93
- R2: 1946.66
- R3: 1955.51
Support Levels:
- S1: 1912.01
- S2: 1900.00
- S3: 1888.70
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