Tuesday, March 1, 2016

XAU/USD: review and forecast

the previous growth in the price was happening on low levels, which indicates weakness of buyers.
Support levels: 1236.49, 1189.80, 1180.50.
Resistance levels: 1217.00, 1201.70, 1189.20.
Trading tips
Short positions can be opened below the level of 1236.00 with the target at 1218.00 and stop-loss at 1240.00.
Long positions can be opened from the level of 1249.00 with targets at 1260.00, 1272.00 and stop-loss at 1247.00.


Scenario

TimeframeIntraday
RecommendationSELL STOP
Entry Point1235.90
Take Profit1218.00
Stop Loss1240.00
Key Levels1180.50, 1189.80, 1236.49, 1217.00, 1201.70, 1189.20

Alternative scenario

RecommendationBUY STOP
Entry Point1249.00
Take Profit1260.00, 1272.00
Stop Loss1247.00
Key Levels1180.50, 1189.80, 1236.49, 1217.00, 1201.70, 1189.20