XAU/USD: technical analysis
05 February 2019, 10:55
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 1315.50 |
| Take Profit | 1323.00 |
| Stop Loss | 1309.00 |
| Key Levels | 1276.60, 1286.50, 1295.00, 1297.50, 1304.50, 1308.70, 1315.30, 1323.60, 1326.60 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1308.50 |
| Take Profit | 1304.50 |
| Stop Loss | 1311.00 |
| Key Levels | 1276.60, 1286.50, 1295.00, 1297.50, 1304.50, 1308.70, 1315.30, 1323.60, 1326.60 |
XAU/USD, D1
D1 chart shows the correction of the downward movement. The instrument is trading between the upper and center lines of Bollinger Bands. The price range is widened indicating that growth may resume. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic crosses the boundary of the overbought zone from above, forming a signal to open short positions.
XAU/USD, H4
On the H4 chart the pair is moving in a narrow lateral channel formed by the center and lower boundaries of Bollinger Bands. MACD histogram is in the positive area keeping a weak signal for the opening of long positions. Stochastic is in the neutral area, and the lines of the oscillator are directed upwards.
Key levels
Resistance levels: 1315.30, 1323.60, 1326.60.
Support levels: 1308.70, 1304.50, 1297.50, 1295.00, 1286.50, 1276.60.
Trading tips
Long positions may be opened from the level of 1315.50 with target at 1323.00 and stop loss at 1309.00.
Short positions may be opened from the level of 1308.50 with target at 1304.50. Stop loss — 1311.00.
Implementation time: 2-3 days.
D1 chart shows the correction of the downward movement. The instrument is trading between the upper and center lines of Bollinger Bands. The price range is widened indicating that growth may resume. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic crosses the boundary of the overbought zone from above, forming a signal to open short positions.
XAU/USD, H4
On the H4 chart the pair is moving in a narrow lateral channel formed by the center and lower boundaries of Bollinger Bands. MACD histogram is in the positive area keeping a weak signal for the opening of long positions. Stochastic is in the neutral area, and the lines of the oscillator are directed upwards.
Key levels
Resistance levels: 1315.30, 1323.60, 1326.60.
Support levels: 1308.70, 1304.50, 1297.50, 1295.00, 1286.50, 1276.60.
Trading tips
Long positions may be opened from the level of 1315.50 with target at 1323.00 and stop loss at 1309.00.
Short positions may be opened from the level of 1308.50 with target at 1304.50. Stop loss — 1311.00.
Implementation time: 2-3 days.
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