Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

Steep downward bounce after yesterday’s momentum apparently will force the market to correct for two trading days at least. This allows to seek for sell signals during upward pullback of the price. Optimal entry zone is 1478.28-1470.70. 

H1-chart:

Local structure has flat mode switching lows and highs. Right now gold is testing pivo-level 1471.64, which either will trigger a pullback in direction 1463.54 or will be broken and then the quotes will climb to the next pivot 1478.74.

Conclusions:

Flat in the 1463.54-1478.74 range.

Trading recommendations:

Seeking for local signals between 1463.54 and 1478.74.

 

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