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Gold and USDCNH – Elliott Wave Analysis

Gold is on the rise, now breaking well above the downward channel that put more bulls in play.. We see a very strong rise so it’s part of a third leg up that can be headed to 1208/1210 area. At the same time we see USDCNH falling aggressively lower, probably into wave C that may starting to accelerate after that broken neckline which may cause more bulls for Aussie and GOLD.

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