Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

It’s getting obvious that further decline is unlikely without full-scale upswing. Thus today there is a probability of gold’s quotes recovery in direction 1516.20. And mid-term prospects reside at the 1535.00 region.

H1-chart:

Local structure has chaotic shape, but right now tests an important psychological support level 1500.00, from where we can consider long-trades with count on movement towards resistance 1511.70.

Conclusions:

Growth to 1511.70 and perhaps to 1516.20.

Trading recommendations:

Longs to 1511.70 and 1516.20.

 

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