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XAUUSD Technical Analysis - XAUUSD Trading: 2022-04-18
Gold Technical Analysis Summary
Above 1980
Buy Stop
Below 1860
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Buy |
Gold Chart Analysis
Gold Technical Analysis
On the daily timeframe, XAUUSD: D1 is trying to get out of the long-term ascending channel. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if XAUUSD: D1 rises above the last high and upper Bollinger band: 1980. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal, the last 2 lower fractals, the lower Bollinger band and the 200-day moving average line: 1860. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we are changing the potential profit/loss ratio in our favor. The most cautious traders after making a trade can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (1860) without activating the order (1980), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Precious Metals - Gold
High inflation in the US could boost demand for precious metals. Will the XAUUSD quotes continue to increase?
In March, inflation in the US reached a 40-year high (since 1981) and amounted to 8.5% y/y. The growth of the United States Producer Price Index (inflation in industry) amounted to 11.2%. This is much more than the Fed's rate, which is currently 0.5%. According to forecasts, the rate will be increased by another 0.5% at the next Fed meeting on May 4. Further tightening of monetary policy is also expected. However, investors fear that inflation may exceed the return on dollar assets for a long time. For example, the United States 10-Year Bond yield is now at its highest since December 2018 and is now 2.83% per annum, while the 30-Year Bond is 2.93% per annum. An additional positive factor for precious metals could be the political crisis in Eastern Europe.
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