XAUUSD is currently a battlefield. It has reached a price level where traders are divided between the continuation of the trend and the turn of the trend. This is the reason why I thinking about the forming possibility of the "megaphone pattern" near about the monthly pivot level. If I see it right a leg forming at the middle of the monthly support (MN-S3) and the monthly short breakout level (MN-S4). New support? We will see what happens.
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