Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart: 

A strong long-signal was formed at the tip of downswing by the end of yesterday’s trading session - bullish inside bar. Thus we can expect start of new upswing in direction of resistance zone 1516.00-1519.17.

H1-chart:

Local corrective downswing is fully completed and got depth sufficient to let bulls find enough fuel at current levels for upward attack in direction 1500.00.

Conclusions:

Growth towards 1500.00.

Trading recommendations:

Longs towards 1500.00.

 

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