Technical analytics

XAUUSD market technical outlook

XAUUSD

Daily chart:

Development of downswing is in progress. There are no signs of its weakening or stopping, therefore we can expect further decline of the gold’s quotes in direction of the last low (1445.15).

H1-chart:

Local downward structure can get a slight pullback to pivot 1459.18, which is the most perspective level for intraday shorts. 

Conclusions:

Pullback to 1459.18 and then new phase of decline in direction 1445.15.

Trading recommendations:

Shorts from 1459.18 to 1445.15. 

 

New articles