Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

The structure keeps “double high” pattern (a reversal formation) so far, which is going to be valid till the break of the last high (1297.88).

A perspective for mid-term decline might be the 1250.00 handle.


H1-chart:

It’s necessary to note that sell entry point lies straight at current levels, it was formed by the bearish pattern Over&Under. The target of these shorts is the 1279.52 level. Thus a trading tactics for today is going to be short-trades in direction of the mentioned zone.


Conclusions:

Decline in direction 1279.52.

Trading recommendations:

Shorts from current levels in direction 1279.52.