Downside Prevails
Our Pivot: 1752
Our Preference: Start short selling XAUUSD below 1746.00 with strict stop loss of 1752.00 and profit target at 1736.00 with extension towards 1732.
Alternate Scenario: Upward penetration of 1752.00 will call for 1757 and 1761.
NOTE: XAUUSD is caged inside a descending wedge on hourly chart and intraday momentum indicators are in bearish mode.
Chart with supports & resistances:
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