Technical analytics

XAUUSD market technical outlook

XAUUSD

 Daily chart:

So, bulls very successfully and confidently broke local high yesterday providing full upward reversal of the trend. We expect movement towards pivot 1495.00 and if it’s broken as well, gold will recover to $1516-1518 for a troy ounce in the coming days. 

H1-chart:

Upward local structure undergoes trending phase, therefore we can expect further growth of the quotes in direction 1494.00 and 1500.00.

Conclusions:

Growth towards 1494.00 and 1500.00.

Trading recommendations:

Longs towards 1494.00 and 1500.00.

 

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