XAU/USD: technical analysis
28 January 2019, 10:26
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 1304.50 |
| Take Profit | 1315.30 |
| Stop Loss | 1298.21 |
| Key Levels | 1266.17, 1276.27, 1288.81, 1298.21, 1304.48, 1315.32, 1326.58 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1276.00 |
| Take Profit | 1257.05 |
| Stop Loss | 1288.80 |
| Key Levels | 1266.17, 1276.27, 1288.81, 1298.21, 1304.48, 1315.32, 1326.58 |
XAU/USD, D1
On D1 chart, the instrument broke through the upper border of Bollinger Bands, leaving a lateral channel formed by the indicator boundaries, after which the growth slowed down. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is in the neutral area, and the lines of the oscillator are directed upwards.
XAU/USD, H4
On the H4 chart, the instrument grows along the upper line 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 zero level and the histogram body from below, signaling for the opening of long positions. Stochastic is in the overbought zone and is moving horizontally.
Key levels
Resistance levels: 1304.48, 1315.32, 1326.58.
Support levels: 1298.21, 1288.81, 1276.27, 1266.17.
Trading tips
Long positions may be opened from the level of 1304.50 with target at 1315.30 and stop loss at 1298.21. Implementation time: 1-3 days.
Short positions may be opened from the level of 1276.00 with target at 1257.05. Stop loss – 1288.80. Implementation time: 3-5 days.
On D1 chart, the instrument broke through the upper border of Bollinger Bands, leaving a lateral channel formed by the indicator boundaries, after which the growth slowed down. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is in the neutral area, and the lines of the oscillator are directed upwards.
XAU/USD, H4
On the H4 chart, the instrument grows along the upper line 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 zero level and the histogram body from below, signaling for the opening of long positions. Stochastic is in the overbought zone and is moving horizontally.
Key levels
Resistance levels: 1304.48, 1315.32, 1326.58.
Support levels: 1298.21, 1288.81, 1276.27, 1266.17.
Trading tips
Long positions may be opened from the level of 1304.50 with target at 1315.30 and stop loss at 1298.21. Implementation time: 1-3 days.
Short positions may be opened from the level of 1276.00 with target at 1257.05. Stop loss – 1288.80. Implementation time: 3-5 days.
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