Technical analytics

XAUUSD market technical outlook

XAUUSD
Daily chart:
Development of trending downswing continues. There are virtually no doubts, that bears will attack the last low of structure (1280.51). Break will drive to a bigger drop of the quotes in direction of $1250 for a troy ounce.

H1-chart:

Local downward structure also develops trending swing. Thus we expect further decline towards 1280.51 and 1270.00.


Conclusions:

Decline in direction 1280.51 and 1270.00.

Trading recommendations:

Shorts towards 1280.51 and 1270.00.

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