Gold in EUR terms (XAU/EUR) is probing the upper edge of the descending triangle seen in the hourly chart.
An upside breakout, if confirmed, would signal an end of the pullback from recent highs near EUR 1,186 and could yield re-test of that level.
That pattern would be invalidated if prices find acceptance under the Asian session low of EUR 1,162.
As of writing, XA/EUR is trading at EUR 1,167 per Oz.
Hourly chart
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Trend: Bullish
Technical Levels
R1: 1,170
R2: 1,175
S1: 1,162
S2: 1,155
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