Weekly reviews

XAUUSD market technical outlook

XAUUSD

Weekly chart:

Trending upswing has probed the pivot-zone 1298.00-1302.00, that allows bears to form a corrective downswing. Market didn’t deliver a direct sell signal so far, however we can expect it during upcoming week after new touch of the mentioned PPZ. Thus a trading tactics might be the search of local short-signals on junior time-frames.


Conclusions:

So, we expect touch of the 1298.00-1302.00 area and then start of decline in direction 1260.00.

Trading recommendations:

Looking for sell signals at the 1298.00-1302.00 region.