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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 160786, member: 58758"] XAU/USD: technical analysis 05.03.2019 [URL='https://atirox.com/wp-content/uploads/XAUUSDH405032019.png'][IMG]https://atirox.com/wp-content/uploads/XAUUSDH405032019-1024x576.png[/IMG][/URL] Current trend On the 4-hour chart, XAU/USD is falling along the lower line of the Bollinger Bands. The price has tested the support level of 1282.78 (Murray [0/8]) and was slightly corrected upwards, but the downward trend still maintains. If the price is set above the level of 1289.06 (Murray [1/8]), the upward correction can develop to the levels of 1296.87 (Murray [2/8]). Additionally, pair’s sustained trading above the 1296.87 (Murray [3/8]) set 1304.68 as buyers next target. The downward trend will be restored after the price is set below the level of 1281.25 (Murray [0/8]). In this case, the next targets of sellers will be the level of 1273.43 (Murray [-1/8]). Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic’s lines are pointed upwards. Bollinger Bands are leaned downwards. However, as the price has broken the lower border of Bollinger Bands, the upward correction is not excluded. Support and resistance Support levels: 1281.25, 1273.43, 1265.62. Resistance levels: 1289.06, 1296.87, 1304.68. Trading recommendations Short positions can be opened from the level of 1281.75 with the target at around 1273.43 and stop-loss 1284.00. Long positions can be opened above the level of 1289.06 with the target at around 1296.87 and stop-loss 1287.50. [/QUOTE]
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