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XAUUSD reveresed off keyt resistance, further drop is possible

Oleh Tickmill
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XAUUSD reveresed off from our first resistance at 1288.77(horizontal swing high resistance, 100% Fibonacci extension , 50% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 1266.73 (horizontal swing low support, , 61.8% Fibonacci extension ). Stochastic is also approaching resistance.
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Chart PatternsforexsignalsHarmonic PatternsTrend AnalysisUSDXAUXAUUSD
Tickmill
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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