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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.

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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.

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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.

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Indicators

MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Buy
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Buy
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Buy
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Buy
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Wait
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Active Buy
MA10
MA20
MA50
MA100
MACD
BBands
Ichimoku
Stochastic
William`s
ZigZag
Overall recommendation Buy

Market sentiment

48% sell
52% buy