Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

Well, so far we don’t know how the day will close (and given the surge at the session beginning, we can’t rule out a steep return with forming of pinbar). But now everything looks like bulls are poised to continue attack without any downward correction.

H1-chart:

Local structure has a very fierce upswing, that continues its development. We expect testing of the 1350.00 level and start of a long-expected correction.

Conclusions:

Growth towards 1350.00 and then downward reversal.

Trading recommendations:

  1. Longs towards 1350.00.

  2. Shorts from the 1350.00 level.

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