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XAUUSD market technical outlook

Daily chart:

Yesterday’s session showed false downward break of bullish inside bar. This may be a sign of sellers’ weakness and a confirming buy signal respectively.

The major task of bulls so far is settling above the stiff pivot-zone 1737.39-1746.27.

H1-chart:

Local upward structure has fully completed downward correction allowing to open long trades from current levels with count on move to resistance 1737.79.

Conclusions:

Growth in direction 1737.79 and 1746.27.

Trading recommendations:

Longs to 1737.79 and 1746.27.

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