Observing XAUUSD on the H1 timeframe, it can be seen that after gold drops towards level 0.0 a day before. Now it has bounced back and has brokeout level 23.6 Fibo and moves sideways between level 23.6 and 38.2 Fibo. refers to a stochastic indicator it seems that it has been past the saturated state. If gold can manage to bounce towards level 38.2 Fibo, go-long positions can be a possible option. On the other hand, still have to consider to the volatility of the market.
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