empty
 
 
it
Supporto
Apertura rapida di un conto
Piattaforma di trading
Ricaricare / Prelevare

19.04.202306:41 Forex Analysis & Reviews: Trading Signals for Gold (XAU/USD) on April 19-20, 2023: buy if breaks $2,010 (21 SMA - symmetrical triangle)

Exchange Rates 19.04.2023 analysis

Early in the European session, Gold (XAU/USD) is trading around 2,004.67 below the 21 SMA (2,010.67) and within the symmetrical triangle pattern. We can see that the bullish force is running out and a technical correction is likely if the instrument trades below 2,010.

Gold struggled to consolidate above 2,010 but failed because the top of the symmetrical triangle pattern acted as a barrier. In the next few hours, we expect it to fall towards the 1,988 zone, a level that coincides with the bottom of the uptrend channel formed in March.

In case gold makes a sharp break above the symmetrical triangle and consolidates above the 21 SMA (2,010), we could expect an upward acceleration and it can cover the gap that it left around 2,023. Finally, it could reach +1/8 Murray located at 2,031.

If a bullish force prevails, it is likely that gold could rally above 2,031 and it could reach the top of the uptrend channel around 2,062.50.

On the other hand, in case of a break below the uptrend channel and consolidation below 1,985, we expect the metal to fall towards the 7/8 Murray located at 1,968 and finally could reach the 200 EMA located at 1,959.

On April 17, the Eagle indicator reached the extremely oversold zone of around 5 points. This could mean that any technical correction could be seen as a signal to buy only if gold consolidates above 1,985.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2025
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaSpot ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaSpot, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.

In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.