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XAUUSD market technical outlook

Daily chart:

We got a very strong sell signal - bearish pinbar at the tip of upswing (marked with yellow). Right now an upward pullback is in progress, which can be used for the search of optimal sell entry points.

Targets of decline are 1495.00 and 1480.70-1483.11.

H1-chart:

Local market structure retains upward tone so far, however given the domination of short-signal from daily chart we can suppose a downward reversal from the 1508.00-1510.00 zone.

Conclusions:

We expect touch of the 1508.00-1510.00 zone and then decline towards 1495.00 with aim at 1480.70-1483.11.

Trading recommendations:

Shorts from 1508.00-1510.00 to 1495.00 and 1483.11.

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