XAU/EUR Trading Analysis (03/07/2025)
The trend is descending. Gold is trading within the 365-135 EMA range. The ascending wave structure has been truncated. There is a bearish divergence on the Awesome Oscillator. An entry point is forming at the truncated C.
Trade idea:
- Buy when the ascending wave structure forms and wave A breaches the sloping channel of the descending, truncated structure.
- Stop-loss at 2878.40.
- Price targets are 2965.00 and 3012.00.
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