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XAUUSD market technical outlook
2020-11-11 07:57:37
As it was presumed, yesterday’s session was closed by the forming of a bullish inside bar, which is a very solid buy signal. We expect a start and development of new upswing in direction of resistance zones 1918.58-1922.00 and 1931.20-1932.93.
H1-chart:
Local structure of the gold market is highly consolidated in the 1867.18-1890.04 range. Once this channel gets broken (presumably - to the upside), the price will get a boost and might grow to 1935.00.
Conclusions:
Main scenario: Impulse growth in direction 1935.30.
Alternative scenario: Continuation of consolidation in the 1867.18-1890.04 range.
Trading recommendations:
Longs to 1935.
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