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XAUUSD market technical outlook
2020-04-09 09:14:24
Market has somewhat slowed down yesterday, but extension of movement to resistance zone 1689.36-1702.58 is still very likely.
From this zone in turn we can expect a downward reversal as upswing at the moment of testing will be having a very big scale and most likely bulls will be out of power by then.
H1-chart:
Local structure is building trending upswing suggesting a potential attack of resistance 1677.00.
Conclusions:
So, we expect growth above 1677.00 and reaching resistance at 1689.36-1702.58.
Trading recommendations:
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Longs to 1677.00 and 1689.36-1702.58.
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Shorts from 1700.00-1702.58.
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