XAUUSD Daily Chart:
XAUUSD is now trading near $1293, after forming another lower high at $1310.59 to come below $1324.52 which has been formed on Last Mar. 25 below last Feb Peak at $1346.73
Forming a lower high at $1310.59 drove the gold below its daily SMA50, but it is still underpinned over longer range by continued being above its daily SMA100 and its daily SMA200.
XAUUSD is trading now in its fourth day in a row above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1283.
The daily chart of XAUUSD shows that its RSI-14 is now inside the neutral region reading 45.769.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is also having now its main line inside its neutral territory reading 50.912 leading to the downside its signal line which is higher in the same region at 69.389, after negative crossover just below its overbought area above 80.
Important levels: Daily SMA50 @ $1306, Daily SMA100 @ $1286 and Daily SMA200 @ $1249
The Closest Experienced S&R:
S1: $1280.89
S2: $1276.65
S3: $1253.46
R1: $1310.59
R2: $1326.27
R3: $1346.73
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
XAUUSD is now trading near $1293, after forming another lower high at $1310.59 to come below $1324.52 which has been formed on Last Mar. 25 below last Feb Peak at $1346.73
Forming a lower high at $1310.59 drove the gold below its daily SMA50, but it is still underpinned over longer range by continued being above its daily SMA100 and its daily SMA200.
XAUUSD is trading now in its fourth day in a row above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1283.
The daily chart of XAUUSD shows that its RSI-14 is now inside the neutral region reading 45.769.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is also having now its main line inside its neutral territory reading 50.912 leading to the downside its signal line which is higher in the same region at 69.389, after negative crossover just below its overbought area above 80.
Important levels: Daily SMA50 @ $1306, Daily SMA100 @ $1286 and Daily SMA200 @ $1249
The Closest Experienced S&R:
S1: $1280.89
S2: $1276.65
S3: $1253.46
R1: $1310.59
R2: $1326.27
R3: $1346.73
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din