empty
 
 

Forex Analysis & Reviews: XAU/USD Technical Analysis and Trading Tips for December 1, 2022
time 01.12.2022 03:50 PM
time Relevance up to, 03.12.2022 02:23 PM

This image is no longer relevant

The dollar continued to weaken on Thursday, while precious metals prices, in turn, continued to rise.

On Wednesday, XAU/USD broke the 1759.00 key resistance level (200 EMA) on its daily chart, and today it also broke the important and long-term resistance level 1770.00 (50 EMA) on the weekly chart.

The nearest growth targets for XAU/USD (while maintaining positive dynamics) are the resistance levels 1788.00 (38.2% Fibonacci retracement correction to the wave of price decline from the level of 2070.00 to 1615.00 dollars per troy ounce), 1800.00 (psychologically significant and local resistance level).

This image is no longer relevant

Alternatively, the upward correction will end near the current levels and in the area below the resistance levels 1788.00, 1800.00, and the breakdown of the key support levels 1759.00, 1745.00 (144 EMA on the daily chart) will resume the long-term negative dynamics of XAU/USD.

The breakdown of support levels 1690.00 (200 EMA on the weekly chart), 1682.00 (50 EMA on the monthly chart) will jeopardize the entire long-term bullish trend of gold, sending XAU/USD inside the downward channel on the weekly chart.

Support levels: 1770.00, 1759.00, 1753.00, 1745.00, 1722.00, 1718.00, 1700.00, 1690.00, 1682.00, 1614.00, 1600.00, 1560.00

Resistance levels: 1788.00, 1800.00, 1832.00, 1843.00, 1875.00

Trading Tips

Sell Stop 1768.00. Stop-Loss 1790.00. Take-Profit 1759.00, 1753.00, 1745.00, 1722.00, 1718.00, 1700.00, 1690.00, 1682.00, 1614.00, 1600.00, 1560.00

Buy Stop 1790.00. Stop-Loss 1768.00. Take-Profit 1800.00, 1832.00, 1843.00, 1875.00

Jurij Tolin,
Analytical expert of InstaForex
© 2007-2023
EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade

InstaForex分析评论将让您充分了解市场趋势! 作为InstaForex的客户,您将获得大量的免费服务以实现有效的交易。

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In February we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

GBP/USD outlook on February 3, 2023

The GBP/USD pair managed to correct into the medium-term bull market zone amid a weak U.S. dollar, rising above the key levels 1.2140 (200 EMA on the daily chart), 1.2240

Jurij Tolin 16:42 2023-02-03 UTC+2

Gold: range breakout after NFPs

The price of Gold is trading in the green at 1,916 at the time of writing. Technically, the rate reached strong downside obstacles and now it has turned

Ralph Shedler 14:24 2023-02-03 UTC+2

Trading tips for EUR/USD

With the December US unemployment data coming out today, it is likely that EUR/USD will see another decline in prices, especially since selling pressure has been strong in the market

Andrey Shevchenko 13:11 2023-02-03 UTC+2

EUR/USD and GBP/USD trading plan for beginners on February 3, 2023

The EURUSD currency pair showed speculative activity due to the strong information and news background. During which, the euro fell by more than 130 points. As a result, the quote

Gven Podolsky 10:58 2023-02-03 UTC+2

GBP/USD: trading plan for European session on February 3. GBP could slump lower

Yesterday GBP/USD formed a few signals for the market entry. Let's analyze the 5-minute chart and revise our trading plan. In the previous article, I referred to the level

Miroslaw Bawulski 07:55 2023-02-03 UTC+2

Trading plan for EURUSD on February 03, 2023

EURUSD rose through 1.1025 post-FOMC's decision on Wednesday only to find resistance. In less than 24 hours, the single currency pair slipped back below the 1.0900 handle, giving away

Oscar Ton 07:24 2023-02-03 UTC+2

EUR/USD: trading plan for European session on February 3, 2023. Commitments of Traders. Overview of yesterday's trading. EUR/USD dropped but hope for further growth remains

Many entry signals were generated yesterday. Let's take a look at the M5 chart to get a picture of what happened. In my previous review, I focused on 1.1003

Miroslaw Bawulski 07:14 2023-02-03 UTC+2

Outlook and trading signals for EUR/USD on February 3. COT report. Analysis of market situation. The ECB's hawkish signals pulled down the euro

EUR/USD did nothing but fall on Thursday. We have been waiting a long time for the euro to collapse and I said that the market had already worked

Paolo Greco 06:43 2023-02-03 UTC+2

GBP/USD: Forecast and trading signals on February 3, 2023. COT report. Detailed analysis of price movement and trades. GBP/USD plunges

On Thursday, GBP/USD went down by 180 pips. The market's reaction to the Bank of England's rate decision made no sense at first glance. We have warned that

Paolo Greco 06:14 2023-02-03 UTC+2

How to trade GBP/USD on February 3. Simple trading tips and analysis for beginners

GBP/USD showed similar movements to EUR/USD. It even seems that the market reacted to only one event (Federal Reserve meeting), when in fact, the Bank of England and the European

Paolo Greco 23:00 2023-02-02 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.