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XAUUSD market technical outlook
2020-07-06 08:38:35
The structure of gold market is forming trending bullish swing suggesting probable preparation for a break of the recent high (1788.73). Buyers are obviously interested to reach the psychological level of $1800 for a troy ounce and so far everything leads to successful hitting this target.
H1-chart:
Local structure shows explicit bullish momentum, therefore given the completed corrective downswing we can expect an upward bounce off 1773.28-1774.00 in direction of the recent high 1788.73.
Conclusions:
Growth from 1773.28-1774.00 in direction 1788.73.
Trading recommendations:
Longs from 1773.28-1774.00 in direction 1788.73.
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