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USD/CAD: technical analysis 16 July 2019, 11:19

USD/CAD: technical analysis 16 July 2019, 11:19 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.303...

Jul 10, 2019

XAU/USD: technical analysis 10 July 2019, 10:43


Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 1392.20
Take Profit 1382.00
Stop Loss 1398.20
Key Levels 1311.14, 1319.73, 1332.83, 1344.71, 1360.41, 1381.84, 1398.20, 1412.12, 1424.65, 1439.38
Alternative scenario
Recommendation BUY STOP
Entry Point 1417.00
Take Profit 1429.00
Stop Loss 1412.00
Key Levels 1311.14, 1319.73, 1332.83, 1344.71, 1360.41, 1381.84, 1398.20, 1412.12, 1424.65, 1439.38
XAU/USD, H4
On the 4-hour chart, the instrument trades within a sideways channel formed by the middle line and the lower border of Bollinger bands, the indicator cloud is narrowed. The MACD histogram is in the negative region, keeping the signal to open short positions. Stochastic is in the neutral zone, the lines of the oscillator reversed downwards.

XAU/USD, D1
On the daily chart, an upward movement correction is observed, the instrument was corrected to the middle line of Bollinger bands, the indicator cloud has been greatly expanded, indicating a likely resumption of growth after the correction. 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 directed downwards.

Key levels
Resistance levels: 1398.20, 1412.12, 1424.65, 1439.38.
Support levels: 1381.84, 1360.41, 1344.71, 1332.83, 1319.73, 1311.14.
Trading tips
Short positions can be opened in the short term from the current level with the target at 1382.00 and stop loss 1398.20.
Long positions can be opened from the level of 1417.00 with the target at 1429.00. Stop loss is 1412.00.
Implementation period: 1-3 days.

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