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Because XAU/USD formed a Descending Triangle pattern, we expect it to touch the support line. If it breaks through support it may move much lower

XAU/USD approaching support of a Descending Triangle
XAU/USD is moving towards a support line. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 7 days and may test it again within the next 23 hours.

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