XAU/USD rebounds to $1,850 as Fed's Powell to dodge hawkish guidance... Be wary tonight...

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Gold price is testing the strength of the Inverted Head and Shoulder chart pattern breakout on an hourly scale. The precious metal is auctioning near the neckline plotted from February high at $1847.00. An Inverted H&S pattern demonstrates a prolonged consolidation and a breakout of the same result in a bullish reversal.

The 50-period Exponential Moving Average (EMA) at $1,847.84 is providing support to the Gold bulls.

The Relative Strength Index (RSI) (14) has gauged cushion around 40.00. A reversal can be spotted at this level.


XAU/USD rebounds to $1,850 as Fed's Powell to dodge hawkish guidance... Be wary tonight...

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