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After the Divergence appeared between the movement of the Gold price with the Stochastic Oscillator indicator on the 4-hour chart and was also confirmed by its price movement which is currently below the WMA (30 Shift 2) it has confirmed that Gold is currently in a weakening condition even though in the near future there is potential to strengthen but it is limited in nature where the level of 3017.17 will be tested but as long as the limited strengthening does not break through and close above the level of 3054.98 then Gold will continue to weaken again to the level of 2929.26 as its main target and if the momentum and volatility support then 2894.81 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.
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On the 4-hour chart, the GBP/AUD cross currency pair appears to still be dominated by Sellers, which is confirmed by its price movement which is moving below the WMA (30
With the price movement forming Higher Low - Lower Low and supported by the decreasing slope of WMA (30 Shift 2) and the movement of Crude Oil prices moving below
Early in the American session, the EUR/USD pair is trading around 1.1345, reaching the top of the downtrend channel and showing signs of exhaustion. The euro could resume its bearish
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