Technical analysis

18 September 2020

13:41 Gold continues to test support for MA 200 H1

The XAU/USD was trading lower yesterday and closed the day in the red around $1945. Gold is up slightly today, rising to $1955. On the hourly chart, XAU/USD continues to test for strength the support - the moving average MA (200) H1 ($1945). On the four-hour chart, gold remains below the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the XAU/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

  • Resistances levels are at: $1960, $1973, $1992

  • Support levels are at: $1933, $1920, $1906

Gold continues to test support for MA 200 H1 18.09.2020

Probably, the main scenario - is the continuation of the upward movement to $1960 (Sep 17 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $1920 (Sep 9 low).

18 September 2020, 13:58

AUD/USD remains above MA 200 H1

18 September 2020, 13:23

Oil consolidated above MA (200) H1

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