XAUUSD Still Has BUY Potential: Consolidation Above the Trendline ~ 90% Rebate Exness Everyday

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XAUUSD Still Has BUY Potential: Consolidation Above the Trendline

XAUUSD Analysis

Gold is consolidating as the economic stimulus launched in China, the largest consumer of gold, has failed to convince the market. Additionally, the USD is moving near a two-month high.

Consolidation Above the Trendline

Gold prices are consolidating after successfully breaking through a downtrend line visible on the H1 time frame. The intraday bias remains bullish today, and buy opportunities can be sought in the trendline area.

Forecast: STRONG XAUUSD

Trade Plan:

Buy Area: 2646.24 – 2641.49
Stop Loss (SL): 2633.23
Take Profit (TP1): 2655.02
Take Profit (TP2): 2665.93
Take Profit (TP3): 2676.78