XAUUSD market technical outlook

2020-07-21 07:43:52

Daily chart:

Gold feels fine amid crisis remaining the major safe haven for investors. As we see growth of the quotes was extended and we’ll probable face testing of 1840.00-1850.00 before market will get a long-awaited correction.

H1-chart:

Local bullish swing is too big as well to continue smooth movement. In this situation a pullback of the price to broken PPZ 1813.12-1814.52 would look natural. Thus it’s this zone appears to be of top interest for buyers.

Conclusions:

Pullback to 1813.12-1814.52 and then extension of growth in direction 1840.00-1850.00.

Trading recommendations:

Longs from 1813.12-1814.52 to 1840.00-1850.00.

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