4 Global Market Updates-20 August, 2022

In this article, we have covered the highlights of global market news about the XAG/USD, Bitcoin/Ethereum, Australian Dollar, and Canadian Dollar.

XAU/USD: Forecast for Gold and Silver Prices Not promising at all

With the USD rising, Gold (XAU/USD) has been falling for days. Given how the Dollar is now behaving (bullish), precious metals may face even more significant difficulties. There may be a little respite, but it seems that sellers will benefit for the time being.

To put the breakout from the channel back in play, Gold will need to demonstrate some tenacity here very soon and pivot back towards the most recent high at 1808 and soar over it. That being said, the channel line will quickly be tested as support; therefore, now would be a good moment for Gold to begin retracing its downward trend.

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