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XAUUSD market technical outlook

Daily chart:

Decline of the quotes reached very strong support zone 1456.27-1458.32 triggering at this moment forming of bullish inside bar at the tip of downswing (marked with yellow).

If the day is closed this way traders will get a very good buy signal for tomorrow in direction 1480.70-1483.11.

H1-chart:

Local structure has signs of consolidation (watch contracting yellow zones) being a formula of inside bar on a senior frame.

Thus in case of settling above the last structure’s high (1472.72) we might consider upward reversal confirmed. 

Conclusions:

Growth in direction 1472.72-1475.00 and forming of bullish inside bar by the end of the day.

Trading recommendations:

Longs to 1472.72-1475.00.

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