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[QUOTE="Antony_NPBFX, post: 190323, member: 38727"] [size=5][b]XAU/USD: gold is in demand again 20.01.2021[/b][/size] Good afternoon, dear forum visitors! [url=https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on XAU/USD for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] Gold prices are rising significantly during today's Asian session, updating local highs of January 15. The instrument is testing the level of 1850.00 for a breakout. Noticeable pressure on USD was exerted by the speech of the candidate for the post of the US Treasury Secretary Janet Yellen, who spoke in favor of a gradual return of the "strong dollar policy". In any case, it seems that the Joe Biden administration will not engage in artificial weakening of the national currency, as well as prosecute other countries for such actions. In addition, investors are looking forward to Biden's inauguration today, and also expect quick decisions on the announced USD 2 trillion support package for the US economy. [b] Support and resistance [/b] Bollinger Bands in D1 chart demonstrate a stable decrease. The price range expands from below, weakly reacting to the appearance of ambiguous trading dynamics in the nearest future. MACD is reversing to growth forming a new buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought instrument in the ultra-short term. Technical indicators do not contradict the further development of the uptrend in the short and/or ultra-short term. Resistance levels: 1850.00, 1863.34, 1875.09, 1900.00. Support levels: 1830.00, 1811.96, 1800.00. [img]http://businesspr-finance.com/wp-content/uploads/2021/01/XAUUSD200121-33.jpg[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/01/XAUUSD200121-333.jpg[/img] [b] Trading tips [/b] To open long positions, one can rely on the breakout of 1863.34. Take-profit – 1900.00. Stop-loss – 1840.00. Implementation time: 2-3 days. A rebound from 1863.34 as from resistance followed by a breakdown of 1850.00 may become a signal for new sales with the target at 1811.96. Stop-loss – 1870.00. [b]Use more opportunities of the NPBFX analytical portal: trading signals for commodities[/b] How can a trader determine if it’s worth buying or selling XAU/USD now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on XAU/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/url]. [/QUOTE]
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