Prices Expected to Surge Amid Middle East Tensions.
Product :XAUUSD
Prediction: Increase🔥
Date : 7 May 2024
Technical Analysis:
The currency pair has just retested the upper limit around $2326 and retreated slightly from the levels in the previous period. This also coincides with the level of the 50-day Simple Moving Average (SMA). Prices may further pull back and fall towards the bottom of the range around $2280, or break above the range top and start moving towards the resistance level at $2353, which aligns with the peak of the volatility seen at the end of April.
Edited 07 May 2024, 11:58
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