Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

Bullish inside bar was formed yesterday at the tip of downswing from support zone 1483.11-1486.72 being a buy signal. Thus we can expect start of new upswing in direction of resistance zone 1516.39-1519.17. 

H1-chart:

Local structure keeps downward tone so far, therefore scenario of upward reversal might be considered only after break of the closest high (1495.18 mark). In this case we might open long positions with count on growth towards 1510.00 and 1516.00.

Conclusions:

Growth in direction 1510.00 and 1516.00.

Trading recommendations:

Longs towards 1510.00 and 1516.00.

 

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