XAUUSD is trading in a downtrend along a falling wedge pattern which made me bearish bias. The pair turned declined to the 1940 in the American session on Friday. From a technical perspective, any subsequent move up is likely to confront stiff resistance around 1952_60 strong horizontal support breakpoint. A sustained strength beyond might trigger a short-covering rally and lift the pair price to the 2000. A further move up, however, might still be seen as a selling opportunity...Trade safe.
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