XAU/USD: technical analysis
28 May 2019, 12:49
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 1288.0 |
| Take Profit | 1296.0, 1308.0 |
| Stop Loss | 1282.0 |
| Key Levels | 1243.0, 1265.0, 1272.0, 1288.0, 1296.0, 1308.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1265.0 |
| Take Profit | 1243.0 |
| Stop Loss | 1272.0 |
| Key Levels | 1243.0, 1265.0, 1272.0, 1288.0, 1296.0, 1308.0 |
XAU/USD, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains on the level with its moving averages that are horizontal. The RSI is about to test from above its longer MA. The Composite is falling, having formed a Bearish divergence with the price.
XAU/USD, D1
On the daily chart, the instrument is trading on the middle MA of the Bollinger Bands. The price remains on the level with the EMA14, EMA65 and EMA130, and above the SMA200 which is directed up. The RSI is growing, having broken out its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 1272.0 (local lows), 1265.0 (April lows), 1243.0 (October 2018 highs).
Resistance levels: 1288.0 (local highs), 1296.0 (local highs), 1308.0 (April highs).
Trading tips
After a short-term correction the growth is likely to continue.
Long positions can be opened from the level of 1288.0 with targets at 1296.0, 1308.0 and stop-loss at 1282.0. Validity – 3-5 days.
Short positions can be opened from the level of 1265.0 with the target at 1243.0 and stop-loss at 1272.0. Validity – 3-5 days.
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains on the level with its moving averages that are horizontal. The RSI is about to test from above its longer MA. The Composite is falling, having formed a Bearish divergence with the price.
XAU/USD, D1
On the daily chart, the instrument is trading on the middle MA of the Bollinger Bands. The price remains on the level with the EMA14, EMA65 and EMA130, and above the SMA200 which is directed up. The RSI is growing, having broken out its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 1272.0 (local lows), 1265.0 (April lows), 1243.0 (October 2018 highs).
Resistance levels: 1288.0 (local highs), 1296.0 (local highs), 1308.0 (April highs).
Trading tips
After a short-term correction the growth is likely to continue.
Long positions can be opened from the level of 1288.0 with targets at 1296.0, 1308.0 and stop-loss at 1282.0. Validity – 3-5 days.
Short positions can be opened from the level of 1265.0 with the target at 1243.0 and stop-loss at 1272.0. Validity – 3-5 days.
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