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Early in the American session, the XAU/USD is trading around 2,642 which matches the 21 SMA and below the 200 EMA with bullish potential.
On the H4 chart, we can see a symmetrical triangle pattern in progress which could mean that there could be a continuation of the bullish movement in the next few days.
Gold left a gap at around 2,656. It is likely that if it consolidates above 2,650, we could expect the instrument to cover this gap. So, we could even expect a further upward move until reaching 5/8 Murray at 2,695.
On the other hand, if gold returns below the 200 EMA (2,652), the outlook could remain negative. We could then expect a sharp decline with the target at 2,617. The metal could even reach 2/8 Murray at 2,578.
The Eagle indicator is showing a negative signal. So, as long as the gold price remains below 2,665, the medium-term outlook will be bearish.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
