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Powell will be speaking in 3.5 hours. I believe his speech will spark a rally in USD and result in Gold unfolding and heading below 1800.
Gold looks to be be experiencing a correction. In my opinion it is waiting an impactful news to push it down past 1800 and if we see it close properly below 1800 we should expect it to short further more.
Quoting Sinen
Gold looks to be be experiencing a correction. In my opinion it is waiting an impactful news to push it down past 1800 and if we see it close properly below 1800 we should expect it to short further more.
that could happen today if the stock market continues to sell-off
don't believe in mumbo jumbo from gurus
Quoting ForexGoose
{quote} that could happen today if the stock market continues to sell-off
likely test today , dwn towards 1780 , and bounce possible . lets see
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Currently trading around 1800 usd. A break out can happen because of the rising inflation and intrest rate hikes. It could give another wave lower. As the dollar strengthens, the yellow metal could continue its rally downwards. What are you guys looking in gold, if you are short on good, hoe you think gold could break down!!!!
Quoting Sbygneus
{image}XAUUSD sell
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excellent experience so far, I can recommend
Gold spot (XAU/USD) is rallying in the North American session, and it is above the 200-day moving average (DMA), which lies at $1838.30
Quoting stx19
Gold spot (XAU/USD) is rallying in the North American session, and it is above the 200-day moving average (DMA), which lies at $1838.30
Yes I think most of us didn't expect this to happen, but perhaps it will have to reside in neutral zone for a couple of days before tanking again, especially with the FOMC minutes next week...
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File Type: ex4 PriceActionDetector3.ex4   105 KB | 58 downloads
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File Type: ex4 threeChannel.ex4   241 KB | 55 downloads
Gold closes above 200 EMA. lies around 1838. If it breaks resistance 1850 then it could rally upto 1900 resistance level and so on to 1953$ . but if it rally below 1780 and closes below support 1780$ then its downwards momentum will continue.
Weekend is here. lets see what next week brings
long @1843.79
Avoid what is Strong,Strike at what is Weak
Quoting magentfx
long @1843.79
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Avoid what is Strong,Strike at what is Weak
Quoting magentfx
{quote} {image}

will add more longs if the price falls
Avoid what is Strong,Strike at what is Weak
Quoting magentfx
{quote} {image}

up 15 pips. Will wait target is 40 pips
Avoid what is Strong,Strike at what is Weak
Quoting magentfx
{quote} up 15 pips. Will wait target is 40 pips

Tp hit
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Avoid what is Strong,Strike at what is Weak
Quoting magentfx
{quote} Tp hit {image}
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Avoid what is Strong,Strike at what is Weak
Looks bearish with next target at 1800. Some support near 1840.
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don't believe in mumbo jumbo from gurus
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Bought after GDP figures at1848.12, tp 1875 50EMA . Positive could retest 1900.
Staying positive
resistance at 1860, still looks bearish around current levels

more downside is likely to 1840 and then to 1800

stock sell-off = gold sell-off
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don't believe in mumbo jumbo from gurus
I predict a bull trap. If I'm wrong, I will be punished by the market.
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don't believe in mumbo jumbo from gurus
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