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XAUUSD market technical outlook

Daily chart:
Market remains above the support zone 1902.42-1915.88 that will facilitate recovery of the quotes to the closest strong resistance 1961.69.


Local structure is gradually reversing to the upside having broken one of the highs at 1931.71 already. Shortly we can expect testing of the resistance zone 1938.55-1941.09. Then after a slight correction growth might be extended to 1948.29.


Growth in direction 1938.55-1941.09 and 1949.29.

Trading recommendations:

Longs to 1938.55-1941.09 and 1949.29.

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