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XAUUSD Harmonic pattern - D1

On the XAUUSD chart, given the patterns formed, one can expect the uptrend of gold after colliding with the resistance range in the range of 1606 - 1612. Therefore, we expect the price to start the downtrend after colliding with this range. Therefore, with respect to the support lines available in the market, we can consider the price targets as one of the points 1556 - 1532 - 1513 .

The most important support points for the XAUUSD chart are as follows:

S1 : 1569.20

S2 : 1564.53

S3 : 1556.48

Pivot Points : 1577.95

R1 : 1583.25

R2 : 1591.31

R3 : 1596.74

With countries like the United States, Britain and France reporting on the virus and possibly increasing the number of people infected with the virus, we are likely to see a rise in gold prices. But in some ways, Chinese scientists have claimed to control the virus and make the corresponding reaction so that if the virus is to be controlled extensively, the uptrend can be expected.



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