XAUUSD break below 1900 is opening more downside
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XAUUSD is rejected from the interim 1980 top again and is going for a test of 1870. This rejection from 1980 again leads to a critical downside reversal test of the 1850-1870 zone, where a break below will lead to a considerable downside extension into 1800 and lower.
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The weekly chart shows a brief break below 1900. The downside reversal should be confirmed with a deep dive below 1850, which we expect to get tested in the coming week. We need to see a confirmed bounce from 1900 to invalidate this.
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