XAU/USD, D1

On D1 chart the instrument is trading between the lower and middle lines of Bollinger Bands, the price range is narrowed. MACD histogram is in the negative zone, the signal line is crossing the body of the histogram from above which is a sign for opening short positions. Stochastic is in the neutral area, and the lines of the oscillator are directed upwards.

XAU/USD, H4

On H4 chart, the instrument is moving in the narrow corridor formed by the boundaries of Bollinger Bands. MACD histogram is in the area of the zero mark, its volumes are minimal, the signal line is moving along the zero mark. Stochastic grows in the direction of the overbought area border, the oscillator lines are directed upwards.

Key levels

Support levels: 1312.70, 1307.00, 1302.90, 1295.45.

Resistance levels: 1315.50, 1317.50, 1322.30, 1325.80.

Trading tips

According to the technical indicators, opening of short positions from the level of 1312.70 with the target of 1307.00 and stop-loss at 1315.50 is preferable.

Long positions may be opened from the level of 1317.50 with target at 1325.80. Stop-loss – 1315.50.

Implementation period: 1-3 days.

Spot Gold

BuySellSpread
1221.051220.4362

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point1312.70
Take Profit1307.00
Stop Loss1315.50
Support levels1295.45, 1302.90, 1307.00, 1312.70, 1315.50, 1317.50, 1322.30, 1325.80

Alternative scenario

RecommendationsBUY STOP
Entry Point1317.50
Take Profit1325.80
Stop Loss1315.50
Support levels1295.45, 1302.90, 1307.00, 1312.70, 1315.50, 1317.50, 1322.30, 1325.80
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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