FUND Buy 17.05.2021 09:28
XAU/USD: the increase of demand instigates the asset strengthening
Gold quotes continue corrective growth, trading at $1,855 per ounce. After the lifting of quarantine restrictions, the global demand for metals went up sharply, provoking price growth.
TECH Buy 14.05.2021 07:43
XAU/USD: wave analysis
The pair may grow.
On the daily chart, the third wave of the higher level (3) formed, a downward correction developed as the fourth wave (4), and the formation of the fifth wave (5) started. Now, the first wave of the lower level 1 of (5) has formed, and a local correction is developing as the wave 2 of (5). If the assumption is correct, after the end of the correction, the pair will grow to the levels of 1877.85–1958.98. In this scenario, critical stop loss level is 1738.82.
TECH Sell 12.05.2021 12:14
XAU/USD: Fibonacci analysis
On the daily chart, the price moves within the ascending channel, trying to break above the 38.2% downwards fan around 1833.00. An upward breakout of this level and the level of 1847.60 (61.8% correction) will give the prospect of further growth to 1875.00 (61.8% downward fan line) and 1949.80 (0.00% correction). The key “bearish” level is 1816.00 (correction of 50.0%). The consolidation below it allows a decline to 1785.50 (38.2% correction, the middle line of Bollinger bands, the lower border of the ascending channel) and 1746.50 (23.6% correction, the lower line of Bollinger bands). An upward reversal of Bollinger bands and an increase in the MACD histogram in the positive zone indicates that the upward trend is preserved; however, a reversal of Stochastic in the overbought zone does not exclude the beginning of a downward correction.