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XAUUSD News

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Last Updated Date: 3 June 2021 @ 6:05 AM (UTC)
*Please note that all the dates are in GMT time zone

Gold was down on Thursday morning in Asia, but remained near five-year highs, as investors digested China’s Caixin services economic data and await key U.S. economic data for clues about the economic outlook.

The market is sliding back into bear trending and positioned to attack last Friday’s reversal low. A close under 1893.0 projects a larger selling wave to 1882.0 - 1864.0. Any corrections trapped inside Tuesday’s narrow congestion day will maintain bear forces. A close over 1916.0 is needed to signal a reversing / bottoming turn.

 
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