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XAUUSD market technical outlook

Daily chart:

Yesterday sellers failed to keep the market within proper bearish structure that may lead to a flat.

At this moment the price is firmly bracketed between support zone 1902.42-1910.88 and resistance 1961.69-1975.80. It seems that we’ll get trading inside this range.


Local structure has a potential offer zone formed by O&U pattern - 1945.36-1954.77. We can consider shorts from this zone in direction of support 1910.15. Thus we expect testing of this region followed by drop.


Testing of 1945.36-1954.77, then decline in direction 1910.15.

Trading recommendations:

Shorts from 1945.36-1954.77 to 1910.15.

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