Forex Technical Analysis of XAUUSD - Update
We publish a forex technical analysis on July 22, 2014 for XAUUSD.
In this forex technical analysis we have said that our personal forex trading strategy was to search for an entry point for a swing buy order.
Also we publish a trading alert for an opportunity to buy Gold because it was possible for price to reach high levels.
It’s necessary to update all the critical levels on the chart of XAUUSD.
Monthly Chart
According to forex technical analysis for XAUUSD on monthly chart we observe the price to move within triangular formation. Price is below EMA(50) and above EMA(200).
The area 1272.00 – 1325.00 is neutral zone.
If price moves above the neutral zone our trading targets will be: 1397.00, 1450.00, 1515.00, 1650.00
If price moves below the neutral zone our trading targets will be: 1180.00, 1080.00, 1025.00, 919.00.
Weekly Chart
Studying forex technical analysis for weekly chart price move below EMA(50) and EMA(200).
Also find support from the lower channel of Andrew’s Pitchfork.
The area 1295.00 – 1311.00 is neutral zone.
If price moves above the neutral zone our trading targets will be: 1345.00, 1390.00, 1436.00, 1520.00
If price moves below the neutral zone our trading targets will be: 1237.00, 1180.00, 1100.00.
Daily chart
We observe the price to remain between EMA(50) and EMA(200).
The area 1302.00 – 1310.00 is neutral zone.
If price moves above the neutral zone our trading targets will be: 1329.00, 1337.00, 1345.00, 1355.00, 1370.00.
If price moves below the neutral zone our trading targets will be: 1298.00, 1291.00, 1277.00.
We have to declare that our personal forex trading strategy is to remain buyers on daily chart.
We note the need to use stop loss levels. After all the above informations we can design a forex trading strategy in order to follow, which will have based on forex technical analysis.
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