XAU/USD, D1

On the daily chart, the instrument was corrected to the midline of Bollinger bands, the price range narrowed. MACD histogram is in the negative area, slightly reducing its volumes. The stochastic is in the neutral zone and is reversed upwards.

XAU/USD, H4

On the 4-hour chart, the instrument moves within a narrow sideways channel formed by the upper border and the midline of Bollinger bands, the price range is narrowed. MACD histogram is in the area of ​​the zero line, its volumes are minimal, the signal line is preparing to cross the zero line upwards, after which a signal to open long positions will be received. Stochastic is in the neutral zone, the signal line is directed downwards.

Key Levels

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

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

Trading tips

Long positions can be opened from the current level with the target at 1300.00 and stop loss 1295.50.

Short positions can be opened at the level 1293.50 with the target at 1291.00. Stop loss is 1295.50.

Implementation period: 1–3 days.

Spot Gold

BuySellSpread
1221.91221.2862

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point1298.27
Take Profit1300.00
Stop Loss1295.50
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

RecommendationsSELL STOP
Entry Point1293.50
Take Profit1291.00
Stop Loss1295.50
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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