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XAUUSD market technical outlook

Daily chart:

A solid buy signal was formed at the tip of downswing yesterday - bullish inside bar. Thus we can get a start of new upswing in direction of the pivot-zone 1737.39-1744.67.


Upward structure has perfect step-like tone for long trades. Corrective downswing is fully completed and on top of this a pivot at 1704.00-1705.00 was tested. We can consider long trades from current levels reckoning on movement to 1725.27, 1737.39 and 1744.67.


Growth in direction 1725.27, 1737.39 and 1744.67.

Trading recommendations:

Longs to 1725.27, 1737.39 and 1744.67.

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