Technical analytics

XAUUSD market technical outlook


Daily chart:

Market didn’t formed strong signal for growth continuation within mid-term uptrend so far, therefore despite the fact, that structure is forming trending swing, potential of upward movement looks limited so far.


Ae we see, locally bulls managed to protect structure’s low and today they actively attack in direction of two strong resistance zones - 1311.00 and 1315.00-1316.00. They are unlikely to move higher today, since the structure doesn’t have trending configuration so far.

Optimal point for intraday long-trades is 1307.19 (watch the trajectory of black arrow).


So, we expect growth in direction 1315.00-1316.00. Prior pullback towards the 1307.19 level can take place.

Trading recommendations:

  1. Longs from 1307.19 towards 1315.00-1316.00.

  2. Short-term selling from the 1315.00-1316.00 zone.