However, please note, this is just an idea, and further financial analysis, including news and fundamental factors, should be considered before executing any trades
This is a potential short-term trade idea for XAUUSD. We are observing the current price action as it reaches towards the 3055 level, approaching the lower trendline near 2999, which is a key support zone. There's a possibility that the price will break this support and continue downwards.
Currently, the 20-period moving average (MA) has crossed below the 50-period MA, signaling a potential bearish trend. If the price breaks the lower trendline, it could confirm a continuation of the downward movement.
This is a potential short-term trade idea for XAUUSD. We are observing the current price action as it reaches towards the 3055 level, approaching the lower trendline near 2999, which is a key support zone. There's a possibility that the price will break this support and continue downwards.
Currently, the 20-period moving average (MA) has crossed below the 50-period MA, signaling a potential bearish trend. If the price breaks the lower trendline, it could confirm a continuation of the downward movement.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.