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XAU/USD Analysis: Assessing Bearish Signals

Short
Gold Spot / U.S. Dollar (FOREXCOM:XAUUSD)  
AliSignals Updated   
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Supply and Demand Support and Resistance
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trendanalysis supplyanddemand supportandresistance


Dear traders,

Let's simplify the analysis for XAU/USD:

The daily chart indicates a bearish trend. Considering the shift from going up to a bit more downward.
snapshot


Although there's a move in the bearish direction, it's not particularly strong.

Now, for a cautious approach:

Check out the 4-hour chart. The Ichimoku cloud signals more of that bearish vibe.

There's a bearish channel hanging around, and the Ichimoku cloud acts as a sturdy barrier.

Stay alert for potential opportunities in this setting.

Trade wisely!
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