XAUUSD Forex Analysis for Today, Monday (15-01-2024)
Get Ready to Sell Gold if Support is Broken!
Daily Analysis XAUUSD
Middle East Tensions and Weak US PPI Boost Gold
Gold prices rose on Friday triggered by gold purchases as a safe-haven asset following increased tensions in the Middle East, while weakened PPI data raised the possibility of faster-than-expected Fed interest rate cuts.
Correction Followed by the Appearance of Three Black Crows
A correction occurred, still held by support, but the three black crows pattern emerged. A breakthrough in support will strengthen the bearish potential.
Conclusion: Weak Gold
Resistance
- R1 2064.00
- R2 2036.00
- R3 2075.00
- R4 2095.00
Support
- S1 2036.00
- S2 2064.00
- S3 2024.00
- S4 2012.00
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.