XAU/USD, D1

On the daily chart, the instrument was corrected to the middle line of Bollinger bands, the trend is downward, the price range is narrowing. MACD histogram is in the negative area, keeping the signal to open short positions. Stochastic is in the neutral zone, the oscillator lines are directed downwards.

XAU/USD, H4

On the 4-hour chart, the instrument moves sideways within a narrow corridor formed by the borders of Bollinger bands. MACD histogram is around the zero line, its volumes are minimal, the signal line is ready to cross the zero line downwards, after which a sell signal will be generated. Stochastic is in the neutral zone, the oscillator lines are turning downwards.

Key Levels

Resistance levels: 1256.30, 1263.00, 1265.20.

Support levels: 1249.70, 1246.50, 1242.90, 1237.70.

 

Trading tips

Short positions can be opened from the current level with the target at 1237.70 and stop loss 1263.00.

Long positions can be opened from the level of 1266.00 with the target at 1281.70. Stop loss is 1256.30.

Implementation period: 1–3 days.

Spot Gold

BuySellSpread
1232.751232.1263

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point1251.90
Take Profit1237.70
Stop Loss1263.00
Support levels1237.70, 1242.90, 1246.50, 1249.70, 1256.30, 1263.00, 1265.20

Alternative scenario

RecommendationsBUY STOP
Entry Point1266.00
Take Profit1281.70
Stop Loss1256.30
Support levels1237.70, 1242.90, 1246.50, 1249.70, 1256.30, 1263.00, 1265.20
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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