XAUUSD will soon be in a downtrend on 1H timeframe
Price has bounced off the 0.382 retracement, indicating a strong move to the upside. There is a resistance zone near the 0.5 retracement level, so I think that price will likely reverse there.
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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.