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The precious metal made solid gains on Monday, rising close to 3% intraday.

The gains came as the Fed announced its open-ended asset purchases.

Technically, the rebound is, however, met with a hidden bearish divergence.

This means that price action could give back the gains rather quickly.

On the contrary, if XAUUSD forms a base near 1534, we expect further gains to come thereafter.

TradingGold

The post Can Gold Breakout to the Upside? appeared first on Orbex Forex Trading Blog.


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