XAU/USD: technical analysis
10 May 2018, 09:21
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 1312.70 |
| Take Profit | 1307.00 |
| Stop Loss | 1315.50 |
| Key Levels | 1295.45, 1302.90, 1307.00, 1312.70, 1315.50, 1317.50, 1322.30, 1325.80 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1317.50 |
| Take Profit | 1325.80 |
| Stop Loss | 1315.50 |
| Key Levels | 1295.45, 1302.90, 1307.00, 1312.70, 1315.50, 1317.50, 1322.30, 1325.80 |
XAU/USD, D1
On D1 chart the instrument is trading between the lower and middle lines of Bollinger Bands, the price range is narrowed. MACD histogram is in the negative zone, the signal line is crossing the body of the histogram from above which is a sign for opening short positions. Stochastic is in the neutral area, and the lines of the oscillator are directed upwards.
XAU/USD, H4
On H4 chart, the instrument is moving in the narrow corridor formed by the boundaries of Bollinger Bands. MACD histogram is in the area of the zero mark, its volumes are minimal, the signal line is moving along the zero mark. Stochastic grows in the direction of the overbought area border, the oscillator lines are directed upwards.
Key levels
Support levels: 1312.70, 1307.00, 1302.90, 1295.45.
Resistance levels: 1315.50, 1317.50, 1322.30, 1325.80.
Trading tips
According to the technical indicators, opening of short positions from the level of 1312.70 with the target of 1307.00 and stop-loss at 1315.50 is preferable.
Long positions may be opened from the level of 1317.50 with target at 1325.80. Stop-loss – 1315.50.
Implementation period: 1-3 days.
On D1 chart the instrument is trading between the lower and middle lines of Bollinger Bands, the price range is narrowed. MACD histogram is in the negative zone, the signal line is crossing the body of the histogram from above which is a sign for opening short positions. Stochastic is in the neutral area, and the lines of the oscillator are directed upwards.
XAU/USD, H4
On H4 chart, the instrument is moving in the narrow corridor formed by the boundaries of Bollinger Bands. MACD histogram is in the area of the zero mark, its volumes are minimal, the signal line is moving along the zero mark. Stochastic grows in the direction of the overbought area border, the oscillator lines are directed upwards.
Key levels
Support levels: 1312.70, 1307.00, 1302.90, 1295.45.
Resistance levels: 1315.50, 1317.50, 1322.30, 1325.80.
Trading tips
According to the technical indicators, opening of short positions from the level of 1312.70 with the target of 1307.00 and stop-loss at 1315.50 is preferable.
Long positions may be opened from the level of 1317.50 with target at 1325.80. Stop-loss – 1315.50.
Implementation period: 1-3 days.
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