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XAUUSD 7 Jun 2024

XAUUSD 7 Jun 2024 On the daily timeframe, XAUUSD is still showing a bullish trend that has strengthened since two days ago. The price of gold rose and began to move away from the kumo cloud to the current price position of 2379.95. Looking at the stochastic indicator, the chart is almost touching the 80 level, which indicates the possibility of saturation due to overbought. This situation could increase the potential for a price correction or decline in the short term, although the overall bullish trend still looks strong. Traders should pay attention to nearby resistance levels and anticipate a possible retracement or pullback in the near future.

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