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Old 10-12-2020, 13:40
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

XAU / USD. December 10.2020 - "Absorption" from the EMA 60 line

At the end of yesterday's trading, the gold / US dollar trading pair formed an engulfing candlestick pattern on the daily chart based on the 60-day exponential moving average line - EMA 60.

The price of the trading instrument XAU / USD has renewed its maximum since November 23 at around 1874, after which it turned around, giving a signal to sell. We failed to consolidate at the level of 1860 and, most likely, the pair will start a new downward wave.

It makes sense to take a closer look at sales according to the specified candlestick pattern. The closest reference for the decline is at 1800, near the EMA 200 line.
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