XAU/USD, D1

On the daily chart, there is a correction of the downward movement, the instrument moves sideways within the corridor 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 on the border with the oversold zone, the signal line is directed horizontally.

XAU/USD, H4

On the 4-hour chart, the instrument was corrected to the midline of Bollinger bands, the downward trend is still relevant. MACD histogram is in the negative area, gradually reducing the volumes. Stochastic moves towards the overbought zone, the signal line is directed upwards.

Key Levels

Resistance levels: 1220.00, 1222.70, 1228.44.

Support levels: 1211.63, 1207.46, 1204.21.

Trading tips

In the short term, short positions can be opened from the current level with the target at 1208.00 and stop loss 1220.00.

Long positions can be opened from the level of 1222.70 with the target at 1228.44 and stop loss 1220.00.

Implementation period: 1–3 days.

Spot Gold

BuySellSpread
1174.131173.5360

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point1211.48
Take Profit1208.00
Stop Loss1220.00
Support levels1204.21, 1207.46, 1211.63, 1220.00, 1222.70, 1228.44

Alternative scenario

RecommendationsBUY STOP
Entry Point1222.70
Take Profit1228.44
Stop Loss1220.00
Support levels1204.21, 1207.46, 1211.63, 1220.00, 1222.70, 1228.44
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