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XAUUSD market technical outlook
2019-12-10 09:37:37
Corrective downswing wasn’t completed yesterday after all - market lacked just 3 cents to do that! Thus the day was closed by bullish inside bar, which can’t be regarded a long-signal exactly because of the absence of full-scale downswing in the structure.
This keeps a probability of new decline to the region of yesterday’s lows (1458.33).
H1-chart:
Local structure has tangible higher low and it’s one of the attributes of upward reversal. Upswing can quite reach the pivot-level 1471.00, where we can face sell-offs again.
Conclusions:
Growth in direction 1471.04 and then downward reversal to 1465.00 and 1458.00.
Trading recommendations:
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Longs to 1471.04.
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Shorts from 1471.04 to 1465.00 and 1458.00.
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