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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.


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


Growth in direction 1737.79 and 1746.27.

Trading recommendations:

Longs to 1737.79 and 1746.27.

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