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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