Technical analytics

XAUUSD market technical outlook


Daily chart:

Corrective upswing is still uncompleted, that complicates development of decline. Most likely bears will be stuck today at the support zone 1479.35-1483.60, from where upward correction will be resumed after all.


We note strong local support level 1485.50. It’s unlikely that sellers might overcome this zone neglecting it. Thus the main expectation is upward bounce off this level in direction 1500.00.


Decline towards 1485.50 and then upward bounce in direction 1495.00 and 1500.00.

Trading recommendations:

  1. Shorts towards 1485.50.

  2. Longs from 1485.50 to 1495.00 and 1500.00.

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