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XAUUSD market technical outlook

XAUUSD

Daily chart:

Downswing wasn’t formed yet. And further trending growth of gold without such corrective movement is unlikely. Thus most likely market will reside in a flat between resistance 1473.50 and support 1458.33.

H1-chart:

Local structure keeps upward status, but due to conclusions from daily chart strong further growth is unlikely. Flat range will be limited by 1458.78 and 1468.73 levels.

Conclusions:

Flat in the 1458.78-1468.73 range.

Trading recommendations:

Short-term trades inside the 1458.78-1468.73 range.

 

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