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XAUUSD Technical Analysis - XAUUSD Trading: 2021-12-29
Gold Technical Analysis Summary
Above 1825
Buy Stop
Below 1750
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Gold Chart Analysis
Gold Technical Analysis
On the daily timeframe, XAUUSD: D1 is in a medium-term uptrend. It is trying to break the 200-day moving average line. A number of technical analysis indicators have formed signals for further growth. We do not rule out a bullish movement if XAUUSD: D1 rises above the 200-day MA and Bollinger Upper Line: 1825. This level can be used as an entry point. The initial risk limitation is possible below the last two lower fractals, the Parabolic signal and the lower Bollinger line: 1750. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, 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 (1750) without activating the order (1825), 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
Britain has a record number of coronavirus infections. Will the XAUUSD quotes continue to rise?
On Tuesday, December 28, 129.5 thousand cases of Covid-19 were recorded in Britain. Earlier, Prime Minister Boris Johnson said he would not tighten the coronavirus restrictions in the country. In theory, he could reconsider the decision given the spread of the pandemic. In the United States on Monday, 241.8 thousand people fell ill. This is only 10 thousand less than the record level of January 2021. In the world, the number of coronavirus infections on Monday amounted to 1.44 million people, which is 50% more than in early December. Global risks may increase the demand for precious metals. However, it is still believed that the increase in morbidity is caused by the Omicron variant, which is contagious, but less dangerous than other variants of the coronavirus, such as Delta. Another factor in the attractiveness of gold to investors is the low yield of the United States 10-Year Treasury + 1.47% per annum. It remains at the level of February this year, despite the Fed's plans to raise the rate in 2022. Recall that in February 2021, inflation in the United States was 1.7% on an annualized basis, and in November 2021 it soared to a 30-year high of 6.8%.
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