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XAUUSD market technical outlook

Daily chart:

The structure of gold market is forming trending bullish swing suggesting probable preparation for a break of the recent high (1788.73). Buyers are obviously interested to reach the psychological level of $1800 for a troy ounce and so far everything leads to successful hitting this target.


Local structure shows explicit bullish momentum, therefore given the completed corrective downswing we can expect an upward bounce off 1773.28-1774.00 in direction of the recent high 1788.73.


Growth from 1773.28-1774.00 in direction 1788.73.

Trading recommendations:

Longs from 1773.28-1774.00 in direction 1788.73.

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