Monthly reviews

XAUUSD market technical outlook

Monthly chart:

Upswing wasn’t completed so far, plus Friday’s close revealed bullish inside bar. Thus there is a high probability of the gold’s further growth. The targets might be either humble (in case the bears crash the market right after the renewal of the Friday’s high (watch the red arrow)) or very bold (in case the bulls are ready for rally towards the 1356.00 level (watch the black arrow)).


Conclusions:

Main scenario: Growth towards the 1250.00-1262.00 area and then drop in direction 1160.00.

Alternative scenario: Growth in direction 1356.00.

Trading recommendations:

  1. Search for sell signals, which can be formed at the 1250.00-1260.00 zone.

  2. Looking for buy signals in direction 1260.00 and 1356.00.