XAU/USD: technical analysis
10 December 2018, 11:32
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 1251.00 |
| Take Profit | 1265.60 |
| Stop Loss | 1243.31 |
| Key Levels | 1211.13, 1216.61, 1221.04, 1227.13, 1229.84, 1233.22, 1237.42, 1243.31, 1251.00, 1257.05, 1265.60 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1237.00 |
| Take Profit | 1227.50 |
| Stop Loss | 1243.31 |
| Key Levels | 1211.13, 1216.61, 1221.04, 1227.13, 1229.84, 1233.22, 1237.42, 1243.31, 1251.00, 1257.05, 1265.60 |
XAU/USD, D1
On the D1 chart, the instrument has corrected to the upper border of Bollinger Bands, the price range is widened, which indicates a possible continuation of the uptrend. MACD histogram is in the positive area. The signal line is crossing the body of the histogram from below giving a signal for opening long positions. Stochastic moves horizontally along the border of the overbought zone.
XAU/USD, H4
On H4 chart, there is a downward correction; the instrument is trading near the upper border of Bollinger Bands and the uptrend is still relevant. MACD histogram is in the positive area keeping a signal for opening buy orders. Stochastic is preparing to leave the overbought zone, the oscillator lines are reversing down.
Key levels
Resistance levels: 1251.00, 1257.05, 1265.60.
Support levels: 1243.31, 1237.42, 1233.22, 1229.84, 1227.13, 1221.04, 1216.61, 1211.13.
Trading tips
Long positions may be opened from the level of 1251.00 with the target at 1265.60 and stop loss at 1243.31.
Short positions may be opened from the level of 1237.00 with the target at 1227.50 and stop loss at 1243.31.
Implementation time: 1-3 days.
On the D1 chart, the instrument has corrected to the upper border of Bollinger Bands, the price range is widened, which indicates a possible continuation of the uptrend. MACD histogram is in the positive area. The signal line is crossing the body of the histogram from below giving a signal for opening long positions. Stochastic moves horizontally along the border of the overbought zone.
XAU/USD, H4
On H4 chart, there is a downward correction; the instrument is trading near the upper border of Bollinger Bands and the uptrend is still relevant. MACD histogram is in the positive area keeping a signal for opening buy orders. Stochastic is preparing to leave the overbought zone, the oscillator lines are reversing down.
Key levels
Resistance levels: 1251.00, 1257.05, 1265.60.
Support levels: 1243.31, 1237.42, 1233.22, 1229.84, 1227.13, 1221.04, 1216.61, 1211.13.
Trading tips
Long positions may be opened from the level of 1251.00 with the target at 1265.60 and stop loss at 1243.31.
Short positions may be opened from the level of 1237.00 with the target at 1227.50 and stop loss at 1243.31.
Implementation time: 1-3 days.
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