Happy Tuesday, Dear traders! Welcome to Guriforex.com. Today, we’re bringing you a technical analysis of the XAUUSD (Gold) market. Let’s dive right in!XAUUSD (Gold) Market Technical Analysis for August 20, 2024

XAUUSD (Gold) Market Technical Analysis for August 20, 2024 by Guriforex:

On the 2-hour chart (H2), XAUUSD (Gold) has shown impressive short-term growth, reaching a new historical maximum. This upward momentum has caught the attention of traders as the pair forms a rising wedge pattern, a structure that often signals a potential reversal. The price has now hit a critical resistance level at the 161.8 Fibonacci retracement, a key indicator in technical analysis.

📈 Technical Indicators at Play

🚀 Key Levels to Watch

💬 What’s Your Take?

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