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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 178174, member: 58758"] [SIZE=7][B]XAU/USD: TECHNICAL ANALYSIS 18.03.20[/B][/SIZE] [URL='https://atirox.com/wp-content/uploads/XAUUSDH418032020.png'][IMG]https://atirox.com/wp-content/uploads/XAUUSDH418032020.png[/IMG][/URL] [B]Current trend[/B] Yesterday the XAU/USD tested the resistance level of 1553.79 and was slightly corrected downwards to the area 1531.25-1525.08 support. Today we watch the consolidation of the price around this area. The breakdown of the 1525.08 mark and sustained trading below it will be a signal of the downward trend resumption. In this case, the decline can accelerate towards the 1517.00-1500.00 support area. [B]Alternative scenario[/B] If the "bulls" manage to raise the rate above the level of 1546.25, the correction can continue to the area of 1553.79. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. However, the decisive breakout of 1553.79 is needed to indicate the uptrend resumption. In this case, the next targets of buyers will be the level of 1562.50. [B]Technical indicators[/B] The technical picture is mixed. Bollinger Bands are pointed sideways. MACD is decreasing in the negative zone. Stochastic is pointed downwards, forming a sell signal. [B]Support and resistance[/B] Support levels: 1528.08, 1517.00, 1510.00, 1500.00. Resistance levels: 1546.25, 1553.75, 1562.50, 1575.25. [B]Trading recommendations[/B] Short positions can be opened below the level of 1528.08 with the target at around 1517.00 and stop-loss at 1531.00. Long positions can be opened above the level of 1546.25 with the target at around 1553.75 and stop-loss at 1544.00. [/QUOTE]
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