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XAUUSD Analysis: Potential Upside Momentum

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Hello Everyone,

As of now, XAUUSD has surged to 2305.23, with the prevailing market sentiment leaning towards short positions. However, recent adjustments in support levels suggest a potential for further upward movement. The current lack of substantial data makes it difficult to anticipate a bearish trend. Presently, the daily support level is under examination, which will provide clarity on future direction. Thus far, the daily pivot point has effectively served as a support level. If this daily support fails to hold, there could be a revisit to the weekly or monthly support levels.



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