XAU/USD, D1

On the daily chart, the instrument broke through the lower border of Bollinger bands and slowed the decline. MACD histogram is in the negative area, keeping a confident signal for the opening of short positions. Stochastic is in the neutral zone, the signal line is reversed downwards.

XAU/USD, H4

On the 4-hour chart, there is a correction of the downward movement, the instrument is trading near the lower border of Bollinger bands, the price range is extended, which indicates a possible continuation of the downward dynamics in the short term. MACD histogram is in the negative area, increasing its volumes, the signal line crosses the histogram body downwards, forming a signal to open short orders. Stochastic is in the oversold zone, the oscillator lines move horizontally along the border with the neutral area.

Key Levels

Resistance levels: 1199.73, 1203.95, 1206.41, 1212.21, 1217.35, 1222.71.

Support levels: 1191.66, 1181.14.

Trading tips

In the short term, short positions can be opened from the current level with the target at 1182.00 and stop loss 1199.70.

Implementation period: 1–3 days.

Long positions can be opened from the level of 1212.50 with the target at 1222.70. Stop loss is 1206.50.

Implementation period: 3–5 days.

Spot Gold

BuySellSpread
1202.631202.0657

Scenario

TimeframeWeekly
RecommendationsSELL
Entry Point1194.90
Take Profit1182.00
Stop Loss1199.70
Support levels1181.14, 1191.66, 1199.73, 1203.95, 1206.41, 1212.21, 1217.35, 1222.71

Alternative scenario

RecommendationsBUY STOP
Entry Point1212.50
Take Profit1222.70
Stop Loss1206.50
Support levels1181.14, 1191.66, 1199.73, 1203.95, 1206.41, 1212.21, 1217.35, 1222.71
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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