Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

Upswing wasn’t fully formed so far, therefore current decline of the quotes can be interpreted as correction. At this moment an upper border of broken inside bar is being tested, therefore growth might be continued directly from current levels.

Target of buyers probable will be resistance level 1473.50. 

H1-chart:

Local structure has completed building of retracing downswing, that allows to consider longs from PPZ 1458.00 in direction of the last high (1466.12).

Conclusions:

Growth in direction 1466.12 and 1470.00.

Trading recommendations:

Longs to 1466.12 and 1470.00.