23rd April 2018 - XAUUSD Tech Analysis

Walid Salah Eldin

Master Trader
Feb 15, 2016
216
6
84
47
Egypt
www.fx-recommends.com
XAUUSD-Daily-23-04-2018 04-29-43 م.png

XAUUSD is living now on its first day below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1365.29.

After 9 days of trading above it, XAUUSD became trading below its daily SMA50 in a closer place to its daily SMA100 which is still passing below it, while The pair is still underpinned over longer range by continued existence above its daily SMA200.

XAUUSD is still bounded by trading between $1366.06$ and $1302.80, as it could maintain existence above $1300 psychological level by forming a bottom at $1302.8 on last Mar. 1, after retreating from last Jan. 25 high at $1366.06.

XAUUSD today slide put its RSI-14 in a lower place inside its neutral area reading 43.310.

While XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line actually inside its oversold territory below 20 reading 17.570 and leading to the downside its signal line which is still inside the neutral territory at 38.270.


Important levels: Daily SMA50 @ $1332, Daily SMA100 @ $1318 and Daily SMA200 @ $1301

The nearest S&R:

S1: $1302.80

S2: $1236.51

S3: $1204.74

R1: $1366.06

R2: $1375.20

R3: $1392.09


Have a good day

Kind Regards

Global Market Strategist of FX-Recommends

Walid Salah El Din