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XAUUSD market technical outlook
2020-01-14 09:48:12
So, today bears have renewed local low, therefore development of downswing probably will be extended up to the pivot-zone 1516.00-1519.00.
H1-chart:
Local downward structure has fully completed corrective upswing allowing to consider selling gold from current levels with count on move under the closest low (1535.71).
Conclusions:
Decline under 1535.71 with aim at 1516.00-1518.00.
Trading recommendations:
Shorts to 1535.71 with holding positions towards 1516.00-1518.00.
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