XAU/USD, D1

On the daily chart, the instrument is moving sideways within the channel formed by the lower border and the midline of Bollinger bands. MACD histogram is in the negative area, keeping the signal to open short positions. Stochastic is in the neutral zone, its lines are directed downward.

XAU/USD, H4

On the 4-hour chart, the instrument moves within a narrow sideways channel formed by the borders of Bollinger bands, the price range is narrowed. MACD histogram is in the area of the zero line, its volumes are minimal, and the signal line is moving horizontally along the zero line. Stochastic is in the neutral zone, its signal line is directed upwards.

Key Levels

Resistance levels: 1300.28, 1302.90, 1307.00, 1312.70, 1315.50, 1317.50.

Support levels: 1295.45, 1290.72, 1288.10, 1284.50, 1281.70.

Trading tips

Short positions can be opened from the current level with the target at 1288.10 and stop loss 1300.00.

Long positions can be opened at the level 1300.50 with the target at 1307.00. Stop loss is 1297.50.

Implementation period: 1-3 days.

Spot Gold

BuySellSpread
1199.941199.1282

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point1296.50
Take Profit1288.10
Stop Loss1300.00
Support levels1281.70, 1284.50, 1288.10, 1290.72, 1295.45, 1300.28, 1302.90, 1307.00, 1312.70, 1315.50, 1317.50

Alternative scenario

RecommendationsBUY STOP
Entry Point1300.50
Take Profit1307.00
Stop Loss1297.50
Support levels1281.70, 1284.50, 1288.10, 1290.72, 1295.45, 1300.28, 1302.90, 1307.00, 1312.70, 1315.50, 1317.50
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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