Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

Yesterday’s trading session was closed by bullish inside bar at the tip of upswing. This equally can signify either retaining of overall upward potential of the market or switch to consolidation mode, where the gold will get corrective downswing.

H1-chart:

Structure doesn’t have downward status, therefore current downswing can be halted at the stiff pivot-level 1327.00.

Thus we are getting a key mark for probable scenarios of further growth or correction.

Conclusions:

Main scenario: Decline towards 1327.00 and then new upswing in direction 1340.00.

Alternative scenario: Break below 1327.00 and further decline of the quotes in direction 1310.00-1315.00.

Trading recommendations:

Looking for probable signals to both sides in relation to the 1327.00 level (settling above will allow to go long and break - to go short).

 

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