Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

So, today bears have renewed local low, therefore development of downswing probably will be extended up to the pivot-zone 1516.00-1519.00.

H1-chart:

Local downward structure has fully completed corrective upswing allowing to consider selling gold from current levels with count on move under the closest low (1535.71).

 

Conclusions:

Decline under 1535.71 with aim at 1516.00-1518.00.

Trading recommendations:

Shorts to 1535.71 with holding positions towards 1516.00-1518.00.

 

New articles