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XAUUSD market technical outlook

Daily chart:

Bears broke bullish inside bar which yesterday appeared quite a solid buy signal. Thus we can suggest a flat which is set on the market now or domination of buyers.

In the second case we might consider short-trades from 1500.00 in direction of the last structure’s low (1437.50).

H1-chart:

Local structure is forming corrective upswing which can be completed nearby PPZ 1488.22-1490.00. Thus it’s the most preferable area for opening short-positions.

Conclusions:

Growth towards 1488.22-1490.00 and then decline in direction 1475.00.

Trading recommendations:

Shorts from 1488.22-1490.00 to 1475.00.

Latest news

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