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XAUUSD market technical outlook

Daily chart:

The structure of the gold market so far lacks a full-fledged downswing that will facilitate the forming of downward correction in direction of support zone 1850.27-1857.06. Potentially strong offer zone is 1894.47-1890.73.

H1-chart: Local market has a flat tone and at this moment remains inside the range formed by resistance at 1885.81-1886.12 and support 1871.44-1872.00. It’s highly likely that gold will remain in thes channel during the whole today’s session. But don’t forget about the “thin” market when big players are leaving for the holidays.


Main scenario: Flat in the 1871.44-1886.12 range. Alternative scenario: Growth to 1894.47-1898.73 followed by a downward reversal.

Trading recommendations: Seeking local signals at the borders of the 1871.44-1886.12 channel

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