Technical analysis

26 October 2021

13:42 Gold remains above MA 200 H1

Yesterday, the XAU/USD was trading higher and closed the day in positive territory around the $1806. Today gold was trading in a narrow range of $1802-08, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1784). The situation is similar on the four-hour chart. 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: $1813, $1827, $1833

  • Support levels are at: $1783, $1775-77, $1767

Probably, the main scenario is an upward movement to $1813 (Oct 22 high). An alternative scenario is a final consolidation below the MA 200 H1, followed by a decline to $1722 (Sep 30 low).


26 October 2021, 14:05

AUD/USD continues to rise yesterday

26 October 2021, 13:28

Oil trades around October 2018 highs

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