Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

Forming of downswing which wasn’t completed today is in progress. Thus after ending of local upward pullback we might expect further decline of the quotes in direction of support zone 1458.63.

H1-chart:

Supposed area for completion of upward correction is pivot-level 1469.10, from where we can consider shorts in direction of the support level 1456.00.

Conclusions:

So, we expect decline towards 1456.00. It’s likely that we’ll see prior testing of 1469.10.

Trading recommendations:

Shorts towards 1456.00 (optimally from 1469.10).

 

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