XAUUSD Analysis on H1 Chart - 20/08/2024
Trading Range: XAUUSD is currently trading within the range of 2485 to 2507.
Current Trend: The price is in an accumulation phase, moving sideways within the established range.
Trading Scenarios:
If the price breaks above the 2507 level, it is likely to continue its upward trend, presenting opportunities for short-term buy positions.
Conversely, if the price breaks below the 2485 support level, this could confirm a downward trend, providing opportunities for short-term sell positions.
Current Trend: The price is in an accumulation phase, moving sideways within the established range.
Trading Scenarios:
If the price breaks above the 2507 level, it is likely to continue its upward trend, presenting opportunities for short-term buy positions.
Conversely, if the price breaks below the 2485 support level, this could confirm a downward trend, providing opportunities for short-term sell positions.
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