Technical analysis
XAUUSD in a technical point of view is currently in an accumulating phase after a sharp down move in its correction recently. The RSI and also Stochastic deliver us a positive divergence at H120 TF. The C leg in primary degree is also formed, so that the price action is just now expected to lead higher to break the $1,467.xx level, then from there we see a further up move momentum will be tanked to bring Gold to next higher level at around $1,49x.xx-$1,50x.xx again ( D leg in primary).
Trading strategy for XAUUSD is now looking for long with stop loss below the current lows at $1,444.20 USD/ounce. Price zones to buy at every support levels, which we see at:
1458.00
1456.00
1450.00
Take your look at the depicted chart below for more references:
Clear up momentum we will see but firstly above 1469.xx. From there the upward move to the Nord will be confirmed.
Trade well
XAUUSD in a technical point of view is currently in an accumulating phase after a sharp down move in its correction recently. The RSI and also Stochastic deliver us a positive divergence at H120 TF. The C leg in primary degree is also formed, so that the price action is just now expected to lead higher to break the $1,467.xx level, then from there we see a further up move momentum will be tanked to bring Gold to next higher level at around $1,49x.xx-$1,50x.xx again ( D leg in primary).
Trading strategy for XAUUSD is now looking for long with stop loss below the current lows at $1,444.20 USD/ounce. Price zones to buy at every support levels, which we see at:
1458.00
1456.00
1450.00
Take your look at the depicted chart below for more references:
Clear up momentum we will see but firstly above 1469.xx. From there the upward move to the Nord will be confirmed.
Trade well