GOLD new bullish momentum
XAUUSD Hello traders,
Today, we observed significant downward wicks in the price action, indicating a strong presence of buyers in the market. This suggests a potential opportunity for long trades in the upcoming sessions, both tomorrow and next week. Additionally, the daily candle closed above the Fibonacci retracement level of 61.80%, providing further confirmation to trade in the upside direction.
However, it's important to remain cautious of any news regarding the dollar, as such developments can swiftly alter the market's direction.
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