Weekly reviews

XAUUSD market technical outlook

XAUUSD

Weekly chart:

Upswing doesn’t express any signs of weakness or reversal so far, that tells about high probability of further recovery of the quotes in direction of the psychological resistance 1350.00, where buyers can start to take profits and trigger a corrective downswing.


Conclusions:

So, we expect further growth towards 1350.00 and then start of downward correction.

Trading recommendations:

  1. Longs towards 1350.

  2. Looking for probable sell signals at the 1350.00 area.