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XAUUSD market technical outlook
2020-02-10 09:37:06
Bearish pin might be potentially formed at the tip of upswing (round black mark) that would be a signal for new downswing start tomorrow.
If bulls manage to renew today’s highs upswing might reach 1588.42 (see the black trajectory).
H1-chart:
Local structure so far is bracketed between support zone 1568.95-1569.63 and resistance 1573.00-1574.00. It looks like we’ll see continuation of flat in this range.
Conclusions:
Flat in the 1568.95-1574.00 range.
Trading recommendations:
Short-term trades inside the 1568.95-1574.00 channel.
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