XAU/USD: technical analysis
XAU/USD: technical analysis
13 February 2019, 10:34
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 1297.0 |
| Take Profit | 1280.0 |
| Stop Loss | 1303.0 |
| Key Levels | 1280.0, 1297.0, 1303.0, 1325.0, 1336.0, 1352.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1325.0 |
| Take Profit | 1336.0, 1352.0 |
| Stop Loss | 1316.0 |
| Key Levels | 1280.0, 1297.0, 1303.0, 1325.0, 1336.0, 1352.0 |
XAU/USD, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are turning up. The RSI is falling, having left the overbought zone. The Composite is showing similar dynamics.
XAU/USD, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is about to test from above its longer MA. The Composite is growing, having broken out its longer MA.
Key levels
Support levels: 1303.0 (local lows), 1297.0 (local lows), 1280.0 (local lows).
Resistance levels: 1325.0 (local highs), 1336.0 (November 2016 highs), 1352.0 (September 2016 highs).
Trading tips
There is a chance of a downward correction.
Short positions can be opened from the level of 1297.0 with the target at 1280.0 and stop-loss at 1303.0. Validity – 3-5 days.
Long positions can be opened from the level of 1325.0 with targets at 1336.0, 1352.0 and stop-loss at 1316.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are turning up. The RSI is falling, having left the overbought zone. The Composite is showing similar dynamics.
XAU/USD, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is about to test from above its longer MA. The Composite is growing, having broken out its longer MA.
Key levels
Support levels: 1303.0 (local lows), 1297.0 (local lows), 1280.0 (local lows).
Resistance levels: 1325.0 (local highs), 1336.0 (November 2016 highs), 1352.0 (September 2016 highs).
Trading tips
There is a chance of a downward correction.
Short positions can be opened from the level of 1297.0 with the target at 1280.0 and stop-loss at 1303.0. Validity – 3-5 days.
Long positions can be opened from the level of 1325.0 with targets at 1336.0, 1352.0 and stop-loss at 1316.0. Validity – 3-5 days.
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