XAU/USD: technical analysis
26 June 2019, 11:05
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 1416.00 |
| Take Profit | 1432.00 |
| Stop Loss | 1403.00 |
| Key Levels | 1319.73, 1332.83, 1358.67, 1379.56, 1394.42, 1403.27, 1412.12, 1439.74 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1394.00 |
| Take Profit | 1380.00 |
| Stop Loss | 1403.00 |
| Key Levels | 1319.73, 1332.83, 1358.67, 1379.56, 1394.42, 1403.27, 1412.12, 1439.74 |
XAU/USD, H4
On the 4-hour chart, a correction of the upward movement is observed, the instrument is corrected to the middle line of Bollinger bands. The MACD histogram is in the positive area, keeping the signal to open long positions. Stochastic is preparing to cross the border of the oversold zone downwards, the signal for opening short positions is still relevant.
XAU/USD, D1
On the daily chart, there is also a downward correction but the uptrend is very strong, the instrument is trading near the upper border of Bollinger bands, the indicator cloud is greatly expanded, reflecting a likely resumption of growth after correction. The MACD histogram is in the positive area, rapidly increasing volumes, the signal line crosses the body of the histogram upwards, forming a strong signal for opening long orders. Stochastic is in the overbought zone, the oscillator lines are reversing downwards.
Key levels
Resistance levels: 1412.12, 1439.74.
Support levels: 1403.27, 1394.42, 1379.56, 1358.67, 1332.83, 1319.73.
Trading tips
Long positions can be opened from the level of 1416.00 with the target at 1432.00 and stop loss 1403.00.
Short positions can be opened from the level of 1394.00 with the target at 1380.00. Stop loss is 1403.00.
Implementation period: 1–3 days.
On the 4-hour chart, a correction of the upward movement is observed, the instrument is corrected to the middle line of Bollinger bands. The MACD histogram is in the positive area, keeping the signal to open long positions. Stochastic is preparing to cross the border of the oversold zone downwards, the signal for opening short positions is still relevant.
XAU/USD, D1
On the daily chart, there is also a downward correction but the uptrend is very strong, the instrument is trading near the upper border of Bollinger bands, the indicator cloud is greatly expanded, reflecting a likely resumption of growth after correction. The MACD histogram is in the positive area, rapidly increasing volumes, the signal line crosses the body of the histogram upwards, forming a strong signal for opening long orders. Stochastic is in the overbought zone, the oscillator lines are reversing downwards.
Key levels
Resistance levels: 1412.12, 1439.74.
Support levels: 1403.27, 1394.42, 1379.56, 1358.67, 1332.83, 1319.73.
Trading tips
Long positions can be opened from the level of 1416.00 with the target at 1432.00 and stop loss 1403.00.
Short positions can be opened from the level of 1394.00 with the target at 1380.00. Stop loss is 1403.00.
Implementation period: 1–3 days.
No comments:
Write comments