XAU/USD: technical analysis

XAU/USD, H4

On the 4-hour chart, the sideways trend remains. The instrument has corrected to the middle line of Bollinger Bands, the indicator cloud is narrowing, which indicates the likely persistence of sideways dynamics in the short term. The MACD histogram is around ​​the zero line, its volumes are minimal, the signal line is directed horizontally and does not form a definite signal to enter the market. Stochastic is preparing to cross the border of the oversold zone downwards, the signal to open sell positions will remain.

XAU/USD, D1

The sideways trend remains on the daily chart. The instrument is consolidating around ​​the middle Bollinger band, the indicator cloud is narrowed, the sideways movement is likely to persist in the medium term. The MACD histogram is in around ​​the zero line, its volumes are minimal, the signal line is directed downward, the buy signal is no longer relevant. Stochastic is in the neutral zone, the oscillator lines reversed upwards from the border with the oversold zone.

Key levels

Resistance levels: 1951.30, 1966.65, 1977.20.

Support levels: 1936.50, 1928.40, 1919.00, 1911.70, 1902.70.

Trading tips

Short positions may be opened from the level of 1936.50 with the target at 1928.50 and stop loss 1940.00.

Long positions may be opened from the level of 1951.50 with the target at 1957.00. Stop loss 1948.00.

Implementation period: 1–3 days.