Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

Bulls are unstoppable! It looks like sellers won’t have any chances until the asset reaches the mark of $1900 for a troy ounce. So far only long trades.

H1-chart:

Local upward structure undergoes trending phase also suggesting high probability of new highs. We expect further distribution of the market to the upside. The closest resistances are round levels 1880.00, 1890.00, 1900.00.

Conclusions:

Growth in direction 1880.00, 1890.00, 1900.00.

Trading recommendations:

Longs to 1880.00, 1890.00, 1900.00.