Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

Yesterday downswing was executed within one bar having got the attributes of a peculiar “megaphone” (expanding to both sides, watch the yellow marks). Thus this expansion might be continued today as well and trading tactics will be the search of buy signals during any renewal of the low.

H1-chart:

Local structure got a break of uptrend, therefore from resistance 1510.00 we can expect a start of new downswing in direction of support 1479.53.

Conclusions:

Touch of 1510.00 and following decline in direction 1479.53.

Trading recommendations:

Shorts from 1510.00 to 1479.53.

 

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