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XAUUSD market technical outlook

Daily chart:

Gold market shifted to the stage of growth, but prospects of this growth are not too big so far as movement was launched without direct long-signal. Nevertheless 1560.00-1570.00 zone is quite feasible target for today.

H1-chart:

Local structure has unsteady tone of uptrend despite bullish momentum, therefore potential for the break of strong levels is limited. Thus we can get a downward reversal from resistance level 1556.00.

Conclusions:

So, we expect growth to 1556.00 and then a reversal in direction 1548.00-1550.00.

Trading recommendations:

  1. Longs to 1556.00.

  2. Shorts from 1556.00 to 1548.00-1550.00.

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