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Chart of the day
XAUUSD is retesting a broken upside resistance
XAUUSD is retesting a broken upside resistance of 2140 for an extension higher. So far we are seeing a bounce from it and if it continues we could see a strong extension higher to 2300.
Only in the case of a break below 2140 again, we can expect a downside reversal and a deeper pullback to 2000 support. An immediately confirmed extension higher would warrant a test of 2300. Look for the long trades here or a swing short trade in the case of a break below 2140.
Chart of the Day XAUUSD
Look for the long trades here based on the price action and short trades only in the case of a break below 2140.
XAUUSD trade strategy