AddToAny

AddToAny

Theme images by MichaelJay. Powered by Blogger.

USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47

  USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47 Scenario Timeframe Weekly Reco...

Dec 6, 2019

XAU/USD: gold prices have stabilized 06 December 2019, 11:09

 


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1481.50
Take Profit 1500.00
Stop Loss 1471.15
Key Levels 1449.81, 1455.93, 1464.48, 1471.15, 1481.44, 1486.81, 1493.88, 1500.00
Alternative scenario
Recommendation SELL STOP
Entry Point 1471.10
Take Profit 1455.93, 1449.81
Stop Loss 1481.44
Key Levels 1449.81, 1455.93, 1464.48, 1471.15, 1481.44, 1486.81, 1493.88, 1500.00
Current trend
Gold prices are stable during today’s Asian session, trading near 1475.00. Gold quotes have changed little recently since investors expect the situation to develop in a trade conflict between the United States and China. Earlier this week, information appeared that the conclusion of the agreement may have to be postponed to November 2020, when the next presidential election will be held in the United States. Donald Trump later reiterated that “negotiations are going well,” and moderate optimism gradually began to return to the markets. However, there is little time left until December 15, and new import duties, if they are introduced by the USA, will almost certainly put an end to the current progress in the negotiations and everything will have to be started from scratch.
Support and resistance
In the D1 chart, Bollinger Bands are reversing horizontally. The price range remains virtually unchanged, limiting the development of the “bullish” sentiment in the ultra-short term. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic, having reached the level of “80”, demonstrates weak correctional dynamics, indicating the possibility of developing a full-fledged downtrend in the nearest time intervals.
It is necessary to wait for the additional signals from technical indicators to open short positions.
Resistance levels: 1481.44, 1486.81, 1493.88, 1500.00.
Support levels: 1471.15, 1464.48, 1455.93, 1449.81.


Trading tips
To open long positions, one can rely on the breakout of 1481.44. Take profit – 1500.00. Stop loss – 1471.15.
A breakdown of 1471.15 may be a signal for new sales with target at 1455.93 or 1449.81. Stop loss – 1481.44.
Implementation time: 2-3 days.

No comments:
Write comments


If you are interested or have any questions - Contact us!