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XAU/USD at the new highs

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XAU/USD rose to the highest levels since 2012. The advance has become stretched and the price may try to correct down. There’s a cluster of candlesticks above $1,765, they have long lower wicks – a sign that buyers don’t give up. This may lead the price to 1,775. The next resistance will be at 1,780. The slide below 1,765 will meet support at 1,759.

Trade ideas for XAU/USD

SELL 1,764; TP 1,759; SL 1,766

BUY 1,772; TP 1,775; SL 1,771

XAUUSDH1.png

TRADE NOW

FBS Analyst Team

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