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On the 4-hour chart, the Stochastic Oscillator indicator appears to be crossing BUY, coupled with the price movement moving above the WMA (21) and the appearance of a Bullish 123 pattern, so as long as there is no weakening correction that breaks through and closes below the 3120.34 level, Gold has the potential to strengthen, where the 3312.14 level will be the main target to be tested, even if the volatility and strengthening momentum support it, the 3373.02 level will be the next target to be aimed for.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
On the hourly chart, the GBP/USD pair on Wednesday consolidated above the weak 161.8% retracement level at 1.3520. This consolidation allows for expectations of continued growth toward the next retracement
With the condition of the Stochastic Oscillator indicator at the Overbought level and a Divergence appears between the indicator and the Nasdaq 100 index price movement, so that
The eagle indicator is showing a negative signal for the euro, suggesting a possible fall in the coming days. Therefore, our outlook remains bearish as long as the price consolidates
On the other hand, if bullish strength prevails, we could expect a technical rebound around 3,355. This area has provided gold with a good rebounding point in the past
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