Product: XAU/USD
Prediction: Increase
Technical Analysis:
The XAU/USD pair has been declining for four consecutive days, but the pace of the slide is slowing, suggesting the correction may be nearing its end. The daily chart shows the pair holding above a bullish 20-day Simple Moving Average (SMA), which is also above the ascending 100 and 200 SMAs, providing dynamic support around $2,377.10. Technical indicators are losing their downward momentum while remaining in positive territory, indicating the overbought correction is nearing completion. However, the 4-hour chart paints a more bearish near-term picture, with the pair trading below a firmly bearish 20-SMA and pressuring a mildly bullish 100-SMA, suggesting continued selling pressure. Technical indicators are also heading south, near oversold levels, with no signs of a reversal yet
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