Weekly reviews

Weekly XAUUSD market technical outlook

XAUUSD
Weekly chart:

Bullish pinbar is formed at the tip of downswing, being a solid buy signal. Probability of quotes’ growth is increased by the fact, that this pin is formed from the strong pivot-zone 1280.50.

Thus we can expect start of new upswing in direction of the last structure’s high (1346.73).

Conclusions:

So, we expect start of the quotes’ recovery with mid-term target 1346.73-1350.00.

Trading recommendations:

Longs towards 1346.73-1350.00.

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