XAU/USD: technical analysis
12 July 2019, 10:48
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 1410.40 |
| Take Profit | 1427.00 |
| Stop Loss | 1400.80 |
| Key Levels | 1332.83, 1344.71, 1360.41, 1381.84, 1400.77, 1412.12, 1427.05, 1439.38 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1400.70 |
| Take Profit | 1382.00 |
| Stop Loss | 1412.00 |
| Key Levels | 1332.83, 1344.71, 1360.41, 1381.84, 1400.77, 1412.12, 1427.05, 1439.38 |
XAU/USD, H4
On the 4-hour chart, the instrument was corrected to the middle line of Bollinger bands, the pair is trading within a narrow sideways channel, the indicator cloud is narrowed. The MACD histogram is in the vicinity of the zero line, its volumes are minimal, the signal line crosses the zero line upwards, forming a signal for opening long positions. Stochastic is in the neutral zone, on the border with the oversold zone, the oscillator lines are reversing upwards.
XAU/USD, D1
On the daily chart, an upward movement is being corrected, the instrument is trading around the middle line of Bollinger bands, the indicator cloud is narrowing. The MACD histogram is in the positive area, keeping the signal for opening long orders. Stochastic is in the neutral zone, the lines of the oscillator are moving horizontally.
Key levels
Resistance levels: 1412.12, 1427.05, 1439.38.
Support levels: 1400.77, 1381.84, 1360.41, 1344.71, 1332.83.
Trading tips
Long positions can be opened in the short term from the current level with the target at 1427.00 and stop loss 1400.80.
Short positions can be opened from the level of 1400.70 with the target at 1382.00. Stop loss is1412.00.
Implementation period: 1–3 days.
On the 4-hour chart, the instrument was corrected to the middle line of Bollinger bands, the pair is trading within a narrow sideways channel, the indicator cloud is narrowed. The MACD histogram is in the vicinity of the zero line, its volumes are minimal, the signal line crosses the zero line upwards, forming a signal for opening long positions. Stochastic is in the neutral zone, on the border with the oversold zone, the oscillator lines are reversing upwards.
XAU/USD, D1
On the daily chart, an upward movement is being corrected, the instrument is trading around the middle line of Bollinger bands, the indicator cloud is narrowing. The MACD histogram is in the positive area, keeping the signal for opening long orders. Stochastic is in the neutral zone, the lines of the oscillator are moving horizontally.
Key levels
Resistance levels: 1412.12, 1427.05, 1439.38.
Support levels: 1400.77, 1381.84, 1360.41, 1344.71, 1332.83.
Trading tips
Long positions can be opened in the short term from the current level with the target at 1427.00 and stop loss 1400.80.
Short positions can be opened from the level of 1400.70 with the target at 1382.00. Stop loss is1412.00.
Implementation period: 1–3 days.
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