XAU/USD, D1

On the daily chart, the instrument is going down towards the lower border of Bollinger Bands, the price range сужается. MACD histogram is around the zero line, its volumes are minimal. Stochastic is crossing the oversold area downward, forming a signal to open long positions.

XAU/USD, H4

On the 4-hour chart, the instrument is moving within the sideways channel, formed by the middle line and the lower border of Bollinger Bands. MACD histogram is in the negative zone, keeping a signal to open short positions. Stochastic is in the neutral area, its lines are pointed upwards.

Key levels

Resistance levels: 1325.80, 1328.15, 1330.60, 1334.70, 1340.50, 1343.85, 1346.80, 1352.30, 1357.00.

Support levels: 1322.30, 1317.50, 1315.50, 1312.70, 1307.00, 1302.90.

Trading tips

Long positions can be opened at the level of 1328.50 with the target at 1334.50 and stop loss 1325.80.

Short positions can be opened at the level of 1317.50 with the target at 1312.70 and stop loss 1320.50.

Implementation period: 1–3 days.

Spot Gold

BuySellSpread
1232.371231.5582

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point1328.50
Take Profit1334.50
Stop Loss1325.80
Support levels1302.90, 1307.00, 1312.70, 1315.50, 1317.50, 1325.80, 1328.15, 1330.60, 1334.70, 1340.50, 1343.85, 1346.80, 1352.30, 1357.00

Alternative scenario

RecommendationsSELL STOP
Entry Point1317.50
Take Profit1312.70
Stop Loss1320.50
Support levels1302.90, 1307.00, 1312.70, 1315.50, 1317.50, 1325.80, 1328.15, 1330.60, 1334.70, 1340.50, 1343.85, 1346.80, 1352.30, 1357.00
XAU/USD: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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