Dear traders,
Let's simplify the analysis for XAU/USD:
The daily chart indicates a bearish trend. Considering the shift from going up to a bit more downward.
Although there's a move in the bearish direction, it's not particularly strong.
Now, for a cautious approach:
Check out the 4-hour chart. The Ichimoku cloud signals more of that bearish vibe.
There's a bearish channel hanging around, and the Ichimoku cloud acts as a sturdy barrier.
Stay alert for potential opportunities in this setting.
Trade wisely!
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