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EUR/USD: general analysis 16 August 2019, 14:11

EUR/USD: general analysis 16 August 2019, 14:11 Scenario Timeframe Weekly Recommendation SELL Entry Point 1.1076 Tak...

Aug 13, 2019

XAU/USD: technical analysis 13 August 2019, 11:14


Scenario
Timeframe Weekly
Recommendation BUY STOP
Entry Point 1532.0
Take Profit 1560.0, 1584.0
Stop Loss 1510.0
Key Levels 1399.0, 1440.0, 1468.0, 1532.0, 1560.0, 1584.0
Alternative scenario
Recommendation SELL STOP
Entry Point 1399.0
Take Profit 1365.0
Stop Loss 1412.0
Key Levels 1399.0, 1440.0, 1468.0, 1532.0, 1560.0, 1584.0
XAU/USD, H4
On the 4-hour chart, the instrument is trading on the upper line of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is growing, having entered the overbought zone. The Composite is about to test its strong resistance region.

XAU/USD, D1
On the daily chart, the instrument is trading on the upper line of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is growing, having entered the overbought zone. The Composite is approaching its strong resistance.

Key levels
Support levels: 1468.0 (local lows), 1440.0 (June highs), 1399.0 (local lows).
Resistance levels: 1532.0 (September 2011 lows), 1560.0 (March 2013 lows), 1584.0 (August 2012 lows).
Trading tips
The price is about to test its strong resistance near 1532.0. There is a chance of a short-term downward correction.
Long positions can be opened from the level of 1532.0 with targets at 1560.0, 1584.0 and stop-loss at 1510.0. Validity – 3-5 days.
Short positions can be opened from the level of 1399.0 with the target at 1365.0 and stop-loss at 1412.0. Validity – 3-5 days.

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