XAUUSD hourly turns bearish
The chart on the left shows the daily timeframe of XAUUSD. It’s in the neutral area between the lower and upper blue bands. However, peaks and troughs are lower, hinting at a bearish bias. The right chart shows the hourly timeframe the EMAs look to be crossing bearishly and the stochastic is already heading south. We note that the greenback is bullish on a longer-term scale and are looking to see if this influences the precious metal by pulling into the bearish area on the daily.
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