Technical Analysis &XAUAUD : 2020-10-21

IFC Markets

Master Trader
Oct 31, 2012
1,938
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London (Great Britain)
www.ifcmarkets.com

Recommendation for XAU AUD: Buy
Buy Stop : Above 2700
Stop Loss : Below 2600

IndicatorValueSignal
RSIBuy
MACDNeutral
MA(200)Neutral
FractalsBuy
Parabolic SARBuy
Bollinger BandsBuy

Chart Analysis​

IFC Markets Tech Analysis

On the daily timeframe, XAUAUD: D1 exceeded the downtrend resistance line. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish move if XAUAUD rises above its last maximum: 2700-2710. This level can be used as an entry point. We can place a stop loss below the Parabolic signal and the lower Bollinger line: 2600. After opening a pending order, we can move the stop loss following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch the 4-hour chart and place a stop loss, moving it in the direction of the bias. If the price meets the stop loss (2600) without activating the order (2700), it is recommended to delete the order: some internal changes in the market have were not been taken into account.

Fundamental Analysis​

In this review, we propose to consider the XAUAUD Personal Composite Instrument (PCI). It reflects the price action of Gold vs the Australian dollar. Is the growth of XAUAUD quotes possible?