We have added a triple moving average system to determine the trendiness of XAUUSD. Green>orange>red is regarded as a bullish formation. When this is achieved with angle and separation (blue arrows) a price uptrend typically ensues. Current price action lacks clear direction in this regard. We note that the short-term green moving average has turned down. If green<orange<red develops this will be considered a bearish development for the precious metal.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.