Monthly reviews

Monthly XAUUSD market technical outlook

XAUUSD
Monthly chart:

At the end of February we’ve got a very strong sell signal - bearish pinbar at the tip of upswing. Thus we can expect slump of the gold’s quotes in direction of the 1236.50 level.

Formation looks so good, that there is no an alternative scenario for the short-term so far.

Conclusions:

So, we expect decline in direction 1236.50.

Trading recommendations:

Shorts towards 1236.50.