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XAUUSD market technical outlook

Daily chart:
As it was supposed bulls confidently managed to push off the pivot at 1765.00 that allows them today to reckon on covering the next $5-moves - firstly to 1790.00, then to 1795.00 and there are virtually no doubts that eventually they’ll reach the psychologically important mark of $1800.00 for a troy ounce. We can consider only long trades on such market.


Local upward structure doesn’t cast any doubts as well, however it definitely will be in need of intermediate corrective decline before reaching next targets. This will allow to pick up the asset at 1784.00-1785.00 for holding trades to 1795.00-1800.00.


So, we expect further growth of gold to 1790.00, 1795.00 and 1800.00.

We can get prior pullback to 1784.00-1785.00, which can be utilized solely for seeking opportunities to enter long trades.

Trading recommendations:

Longs from 1784.00-1785.00 to 1790.00, 1795.00, 1800.00.

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