Description
â‹… Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in commentsđź‘Š
Recently price started to trades in flat, where it some time traded in support area, after which bounced up to top part of flat.
After this, price bounced down to support area, after which it at once made upward impulse, thereby breaking $2210 level.
Also, XAU exited from flat and continued to move up in rising channel, where soon price reached one more support area.
But Gold at once bounced to support line of channel and then made upward impulse, breaking $2305 level and exiting from channel.
A not long time ago XAU turned around and started to decline, so, I think Gold can decline to support area.
Then price can turn around and start to move up to $2370 level.
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Yes, the situation is that gold is now behaving purely as a hedge asset