💡 XAUUSD: Strong price drop after breaking the peak
XAUUSD
Analysis December 5 The momentum of H4 gold pushing down from its peak yesterday is very strong. It even surpassed the bottom of the previous strong rebound, thereby reversing the gold H4 trend from up to down. With strong bearish momentum and downtrend structure in H4, plus a bearish outside bar in D1, today's H4 gold can wait to be sold at the upswings.
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Currently, investors are waiting for US non-farm payroll data to be released next Friday. This is an important jobs report, which is expected to affect the US interest rate outlook.
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TARGET : 2040
STOP LOSS: 2055