XAU/USD Analysis: Assessing Bearish Signals

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Or / Dollar Américain (FOREXCOM:XAUUSD)

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FOREXCOM:XAUUSD Or / Dollar Américain

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.

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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