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XAUUSD market technical outlook
2019-11-11 10:15:59
Decline of the quotes reached very strong support zone 1456.27-1458.32 triggering at this moment forming of bullish inside bar at the tip of downswing (marked with yellow).
H1-chart:
Local structure has signs of consolidation (watch contracting yellow zones) being a formula of inside bar on a senior frame.
Thus in case of settling above the last structure’s high (1472.72) we might consider upward reversal confirmed.
Conclusions:
Growth in direction 1472.72-1475.00 and forming of bullish inside bar by the end of the day.
Trading recommendations:
Longs to 1472.72-1475.00.
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