XAU/USD, D1

On the daily chart there is a correction of the downward movement, the instrument moves sideways within the channel formed by the middle line and the lower border of Bollinger bands. MACD histogram is in the negative area, keeping a strong signal for the opening of short positions. Stochastic is in the neutral area, its lines are pointing upwards.

XAU/USD, H4

On the 4-hour chart, the instrument crossed the middle Bollinger band line, after which it slowed down, the price range narrowed. MACD histogram is in the negative area, its volumes are minimal. Stochastic crossed the oversold zone downwards, the buy signal is generated.

Key Levels

Resistance levels: 1227.34, 1235.38, 1237.70, 1243.50.

Support levels: 1222.70, 1218.14, 1115.50, 1211.63.

Trading tips

Short positions can be opened from the level of 1218.00 with the target at 1211.70 and stop loss 1222.70.

Long positions can be opened at the level 1227.50 with the target at 1235.00. Stop loss is 1223.00.

Implementation period: 1–3 days.

Spot Gold

BuySellSpread
1227.021226.282

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point1218.00
Take Profit1211.70
Stop Loss1222.70
Support levels1211.63, 1115.50, 1218.14, 1222.70, 1227.34, 1235.38, 1237.70, 1243.50

Alternative scenario

RecommendationsBUY STOP
Entry Point1227.50
Take Profit1235.00
Stop Loss1223.00
Support levels1211.63, 1115.50, 1218.14, 1222.70, 1227.34, 1235.38, 1237.70, 1243.50
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.

Start Trading
Follow us in social networks!
Live Chat
Leave feedback