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XAUUSD market technical outlook

Daily chart:

Local low was broken yesterday having cancelled probable upward scenario. So far there are no any signs that bears eased yesterday’s solid pressure, therefore it’s reasonable to expect the asset at support level 1535.56. 


Local downward structure steeply switched to another trending phase. Thus we can expect a break of the closest low at 1548.50 and movement in direction 1535.56.


So, we expect gold at 1535.56.

Trading recommendations:

Shorts to 1535.56.

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