XAU/USD: technical analysis
15 February 2019, 10:24
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 1318.20 |
| Take Profit | 1323.00 |
| Stop Loss | 1316.00 |
| Key Levels | 1297.76, 1302.15, 1305.13, 1310.46, 1315.95, 1318.14, 1319.86, 1323.47, 1326.33 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1310.00 |
| Take Profit | 1305.50 |
| Stop Loss | 1313.50 |
| Key Levels | 1297.76, 1302.15, 1305.13, 1310.46, 1315.95, 1318.14, 1319.86, 1323.47, 1326.33 |
XAU/USD, D1
On the daily chart, the upward movement is in the correction, the instrument is trading within the sideways channel formed by the upper border and the middle line of Bollinger bands. MACD histogram is in the positive region, keeping the signal to open long positions. Stochastic in the neutral zone, the oscillator lines are directed horizontally.
XAU/USD, H4
On the 4-hour chart, the instrument was corrected to the upper border of Bollinger bands, the price range is narrowed. MACD histogram is around the zero line, its volumes are minimal, the signal line moves horizontally along the zero line. Stochastic crossed the overbought zone upwards; the oscillator lines are reversing downwards, forming a signal to open short positions.
Key levels
Resistance levels: 1315.95, 1318.14, 1319.86, 1323.47, 1326.33.
Support levels: 1310.46, 1305.13, 1302.15, 1297.76.
Trading tips
Long positions can be opened from the level of 1318.20 with the target at 1323.00 and stop loss 1316.00.
Short positions can be opened from the level of 1310.00 with the target at 1305.50 and stop loss 1313.50.
Implementation period: 1–3 days.
On the daily chart, the upward movement is in the correction, the instrument is trading within the sideways channel formed by the upper border and the middle line of Bollinger bands. MACD histogram is in the positive region, keeping the signal to open long positions. Stochastic in the neutral zone, the oscillator lines are directed horizontally.
XAU/USD, H4
On the 4-hour chart, the instrument was corrected to the upper border of Bollinger bands, the price range is narrowed. MACD histogram is around the zero line, its volumes are minimal, the signal line moves horizontally along the zero line. Stochastic crossed the overbought zone upwards; the oscillator lines are reversing downwards, forming a signal to open short positions.
Key levels
Resistance levels: 1315.95, 1318.14, 1319.86, 1323.47, 1326.33.
Support levels: 1310.46, 1305.13, 1302.15, 1297.76.
Trading tips
Long positions can be opened from the level of 1318.20 with the target at 1323.00 and stop loss 1316.00.
Short positions can be opened from the level of 1310.00 with the target at 1305.50 and stop loss 1313.50.
Implementation period: 1–3 days.
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