XAU/USD, D1

On D1 chart the instrument is trading between the lower and middle lines of Bollinger Bands, price range is narrowed. MACD histogram is in positive zone, gradually reducing its volume. Stochastic is in the neutral zone, and the lines of the oscillator are reversing downwards.

XAU/USD, H4

In H4 chart the instrument corrected to the middle line of Bollinger Bands, the price range is expanded. MACD histogram is in the positive area keeping a weak signal for the opening of long positions. Stochastic moves in the direction of the border of the oversold area, the oscillator lines are directed downwards. In case of crossing the designated border from above a signal to open long positions will be received.

Key levels

Support levels: 1297.34, 1295.45, 1292.82, 1290.72, 1288.10.

Resistance levels: 1300.28, 1302.90, 1304.64, 1307.00, 1308.96.

Trading tips

Long positions should be opened from the level of 1300.50 with target at 1304.00 and stop-loss at 1297.50.

Short positions should be opened from the level of 1297.00 with target at 1293.00. Stop-loss – 1300.00.

Implementation time: 1-3 days.

Spot Gold

BuySellSpread
1232.371231.5582

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point1300.50
Take Profit1304.00
Stop Loss1297.50
Support levels1288.10, 1290.72, 1292.82, 1295.45, 1297.34, 1300.28, 1302.90, 1304.64, 1307.00, 1308.96

Alternative scenario

RecommendationsBUY STOP
Entry Point1297.00
Take Profit1293.00
Stop Loss1300.00
Support levels1288.10, 1290.72, 1292.82, 1295.45, 1297.34, 1300.28, 1302.90, 1304.64, 1307.00, 1308.96
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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