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financialflagship

XAU/USD - Week 51 - One more Down before the Up?

Short
Gold Spot / U.S. Dollar (FX_IDC:XAUUSD)  
financialflagship Updated   
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Fundamental Analysis
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trendanalysis chartpattern fundamental
Gold is making a complex consolidation pattern and for the short-term the price may re-test the November lows. We expect the price to go back up again in the near future, considering the fact that many countries have gone into lockdown with Covid-19 case rates growing worrying around the globe. Will the cautiousness of investors bolster gold’s role as the primary safe haven in the future? This remains to be seen. For the moment we will be looking for sells.

Trade with care!
Financial Flagship

Disclaimer: The analysis provided is just informal and it should not be used as financial advice. You need a plan before you trade, but we assume this can help you have a better idea to where the market is heading next.
Trade closed manually:
The down move is still on the radar
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