Trading Signals for GOLD (XAU/USD) for May 30-31, 2024: buy above $2,345 (oversold - 200 EMA)

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Technical analysis



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Technical analysis


Trading Signals for GOLD (XAU/USD) for May 30-31, 2024: buy above $2,345 (oversold - 200 EMA)


Early in the American session, Gold




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30.05.2024 03:37 PM






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Early in the American session, Gold is trading at 2,338, around the 200 EMA, and within the downtrend channel forming since May 16. We believe that gold could sharply break above the downtrend channel in the next few hours. If this scenario comes true, we could expect there to be an upward movement which could be seen as a signal to buy with targets at 2,363 and 2,395.On the other hand, in case gold falls below 2,336 and consolidates below




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