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XAU: Bearish Trends & Reversal Potential

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
rTrader_official Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Fundamental Analysis
11
3
trendanalysis chartpattern fundamental
The price of XAU (gold) has been exhibiting bearish movements due to low demand compared to previous periods. However, this does not guarantee a sustained bearish trend. It is possible for the price to reach around 1800, as per previous targets, but global events or negative economic factors could reverse the bearish sentiment and make XAU bullish again. From a technical standpoint, the price has broken out of a pattern and may retrace towards targets around 1900 and 1895
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Trade closed: target reached

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