XAU/USD: technical analysis

November 30, 2015


On the daily chart, the pair is trading just above the lower MA of Bollinger Bands. The price remains below the EMA130, EMA65 and EMA14, all directed down. The RSI is failing to break out from the oversold zone as it tested its resistance at 32 mark two times last week. The Composite is falling towards its MA’s.


On the 4-hour chart, the pair is trading just above the lower MA of Bollinger Bands after it formed four closes below the line. The price remains below its MA’s, all of which are heading down. The RSI is about to leave the oversold zone and, same as the Composite, growing towards its MA’s. MA’s for both indicators suggest a weakness of the market.

Key levels

Support levels: 1054.76 (today’s opening price), 1052.58 (local lows), 1043.83 (2010 lows).

Resistance levels: 1059.43 (last week highs), 1063.45 (61.8% Fibonacci retracement for a short-term trend), 1066.55 (50% retracement).

Trading tips

Short positions can be opened below the level of 1052.58 with the target at 1044.60 and stop-loss at 1054.80. Validity – 1-2 days.

Long positions can be opened above the level of 1059.43 with the target at 1063.25 and stop-loss at 1057.52. Validity – 1-2 days.

Publication source
LiteForex information  LiteForex reviews

December 8, 2016
U.S. equities post a new record high. Euro looks to ECB meeting
U.S. equities edged higher to post new highs in yesterday's trading marking one of the strongest one day gains since the November elections. The DJIA gained 1.6% while the S&P500 closed with 1.3% gains...
December 8, 2016
US equities jump sharply
US markets saw a massive rise today as the Dow was up 300 points and the S&P 500 was up 29 points showcasing that investors believe the advent of Trump will have a positive effect on the US economy.
December 7, 2016
GBP falls as industrial & manu. production miss
The pound has come under pressure in London trading today. EURGBP buying has been a driver, with the cross rallying some 0.5% to a peak of 0.8510, since ebbing to around 0.8490. Gains failed to sustain above the 20-day moving average, which is at 0.8503...

 FXTM Rating
FBS Rating
FIBO Group Rating
FxPro Rating
Tickmill Rating
Trade360 Rating

365BinaryOption Rating
Grand Option Rating
Porter Finance Rating
OptionBit Rating
Beeoptions Rating
Empire Option Rating