XAU/USD, D1

On the daily chart, the upward movement is being corrected, the instrument has broken the lower border of Bollinger bands, continuing the decline. MACD histogram is in the positive region, keeping the signal to open long positions. Stochastic is in the neutral zone, the lines of the oscillator are directed downwards.

XAU/USD, H4

On the 4-hour chart, the instrument decreases along the lower border of Bollinger bands, the price range is expanded, indicating a likely continuation of the downward movement. MACD histogram is in the negative area, gradually increasing its volumes, the signal line crosses the body of the histogram downwards, forming a signal to open short positions. Stochastic moves horizontally along the border with the oversold zone.

Key levels

Resistance levels: 1214.00, 1217.95, 1223.12, 1227.13, 1235.54, 1243.21.

Support levels: 1203.82, 1198.69, 1192.75, 1182.79.

Trading tips

Short positions can be opened in the short term from the current level with the target at 1192.75 and stop loss 1214.00.

Long positions can be opened from the level of 1227.13 with the target at 1243.21. Stop loss is 1217.95.

Implementation period: 1–3 days.

Spot Gold

BuySellSpread
1249.641249.0856

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point1206.94
Take Profit1192.75
Stop Loss1214.00
Support levels1182.79, 1192.75, 1198.69, 1203.82, 1214.00, 1217.95, 1223.12, 1227.13, 1235.54, 1243.21

Alternative scenario

RecommendationsBUY STOP
Entry Point1227.13
Take Profit1243.21
Stop Loss1217.95
Support levels1182.79, 1192.75, 1198.69, 1203.82, 1214.00, 1217.95, 1223.12, 1227.13, 1235.54, 1243.21
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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