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Daily GOLD Forecast – 8.2.2024

The price rebounded from the support level and reached the target level. XAUUSD is trading within a range after returning to the range zone. It's likely to continue moving within this range as the price is in an inside bar pattern on the daily timeframe. It could potentially be a bullish move if the market retests the support level. Otherwise, we might expect a choppy market. I believe the price could tap into liquidity beneath the large bullish candle and then ascend.