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XAUUSD market technical outlook

Daily chart:

Bullish inside bar at the tip of downswing was formed Friday (black round mark). Such formation might become a tangible long setup, therefore bulls’ activity at 1715.87-1720.78 can be very high.

If such scenario pans out, we might get a start of new strong upswing.

H1-chart:

Local support at 1723.00 is being tested at this moment, which is quite capable to reveal sufficient demand for gold. Thus today we expect growth to the closest strong resistance 1739.08-1740.71.

Conclusions:

Growth to 1739.08-1740.71.

Trading recommendations:

Longs to 1739.08-1740.71.

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