XAU/USD, D1

On the daily chart, the instrument moves sideways along the middle line of Bollinger bands, the price range is narrowed. MACD histogram is in the negative area, keeping the signal to the opening of short positions. Stochastic moves horizontally along the border with the overbought zone.

XAU/USD, H4

On the 4-hour chart, there is a correction of the upward movement, the instrument moves within the sideways corridor formed by the middle line and the lower border of Bollinger bands. MACD histogram is in the positive area, reducing its volumes, the signal line is pointing downwards. Stochastic is in the neutral zone, the oscillator lines are directed downwards.

Key Levels

Resistance levels: 1205.05, 1207.60, 1213.97, 1217.95, 1222.71, 1228.52.

Support levels: 1198.69, 1192.75, 1182.79, 1176.85, 1169.21, 1159.95.

Trading tips

In the short term, it is better to open long positions from the current level with the target at 1213.00 and stop loss 1199.00.

Short positions can be opened from the level of 1198.00 with the target at 1183.00. Stop loss is 1205.00.

Implementation period: 1–3 days.

Spot Gold

BuySellSpread
1202.571201.9661

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point1202.52
Take Profit1213.00
Stop Loss1199.00
Support levels1159.95, 1169.21, 1176.85, 1182.79, 1192.75, 1198.69, 1205.05, 1207.60, 1213.97, 1217.95, 1222.71, 1228.52

Alternative scenario

RecommendationsSELL STOP
Entry Point1198.00
Take Profit1183.00
Stop Loss1205.00
Support levels1159.95, 1169.21, 1176.85, 1182.79, 1192.75, 1198.69, 1205.05, 1207.60, 1213.97, 1217.95, 1222.71, 1228.52
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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