Gold broke the area 1648 (50% Fibonacci - weekly range, on the left) which could've brought the price back to the downside for the rest of the week, but it couldn't stable below that level and rebound to the upside instead today. The MACD has already broke the zero line on time frame 1H while it is about to cross on time frame 4H.
If the price breaks 100% Fibonacci on 1H (1664), and MACD on 4H also crosses up, then the next target would be around 1669 - 1676. Otherwise, more consolidation would be seen today... or even back to the downside below 50% Fibonacci (1654.)
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