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XAUUSD market technical outlook

Daily chart:
A bullish pinbar was formed at the tip of corrective downswing after testing of the mid-term pivot-zone 1902.42-1915.88 and we can treat that as a signal for the start of upswing in direction of resistance levels 1961.69 and 1992.07.


Local structure is being formed quite chaotically so far, but here we also got a typical upward bounce off the support zone 1926.95-1927.58. We can consider longs in direction 1945.73. Also bulls will face quite a stiff barrier 1938.55-1941.09.


Growth in direction 1945.73.

Trading recommendations:

Longs to 1945.73.

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