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GBP/USD: general analysis 26 February 2020, 13:50

GBP/USD: general analysis 26 February 2020, 13:50 Scenario Timeframe Intraday Recommendation BUY Entry Point 1.2940 ...

Feb 14, 2020

XAU/USD: Alligator against “bears” 14 February 2020, 08:45


Scenario
Timeframe Weekly
Recommendation BUY STOP
Entry Point 1577.00
Take Profit 1588.00
Stop Loss 1570.00
Key Levels 1557.00, 1570.70, 1577.00, 1588.00
Alternative scenario
Recommendation SELL STOP
Entry Point 1570.00
Take Profit 1557.00
Stop Loss 1577.00
Key Levels 1557.00, 1570.70, 1577.00, 1588.00
Current trend
The XAU/USD pair continues local horizontal dynamics within the correction to the global uptrend. The sideways trend narrows and forms a “triangle” pattern, within which the price, having reversed at the support line, is moving towards the resistance line at 1588.00. The Alligator indicator, after temporary uncertainty, issued a stable buy signal, which is also confirmed by the AO oscillator, which crossed the zero line upwards, thereby giving a buy signal.
In the near future, it is better to open buy positions at the local interval, which will become relevant after breaking the local minimum.
Support and resistance
Resistance levels: 1577.00, 1588.00.
Support levels: 1570.70, 1557.00.

Trading tips
In the case of the continued growth of the asset, as well as fixing the price above the local maximum around 1577.00, purchase positions with the target at 1588.00 will be relevant. Stop loss is better to set below the resistance level, around 1570.00.
In case of a reversal, a decrease in the asset, as well as fixing the price below local support around 1570.00, selling positions with the target at 1557.00 will be relevant. Stop loss is better to set above the local maximum, around 1577.00.
Implementation period: 5 days.

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