Analityka techniczna

XAUUSD market technical outlook

XAUUSD

Daily chart:

Forming of downswing is in progress. The pivot level 1250.00 seems to be the target. As we see there is still enough room for downward correction continuation.


H1-chart:

Local downward structure is in a trending mode, therefore a scenario of break of the support 1276.11-1278.00 should be the main for for today.

Upward scenario can take place in case of failure to pierce the support 1278.78 (watch the red arrow).


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Conclusions:

Main scenario: Breakdown below 1276.11-1278.00 and further decline in direction 1250.00.

Alternative scenario: In case of upward bounce from the 1278.78 level, we can see growth in direction 1290.00.

Trading recommendations:

  1. Shorts in direction 1250.00.

  2. Longs from the 1278.78 handle towards 1290.00 (a confirming signal is needed).

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