empty
 
 
17.03.2023 04:00 PM
XAU/USD outlook for March 17, 2023

This image is no longer relevant

Gold hit a new six-week high of 1937.00 last Wednesday, adding nearly 3.5% for the week, and so far remains near this mark. As of writing, XAU/USD was near 1930.00 and remains in a bull market zone for short, medium, and long term. If the Fed's decision at the March 21 and 22 meetings is considered too soft by investors, we could see a new rally in gold and the XAU/USD moving towards last year's highs and above 2070.00.

This image is no longer relevant

A rise above this week's high of 1,937.00 may be the first signal for long positions, even though the pair seems oversold (Stochastic, for instance, has been oversold for several days, which indicates a strong bullish momentum.)

Alternatively, XAU/USD will resume its decline. The first signal to open short positions will be the breakdown of today's low of 1919.00 and the short-term support level (200 EMA on the 15-minute chart), and the breakdown of the support levels 1885.00 (200 EMA on the 1-hour chart), 1860.00 (200 EMA on the 4-hour chart and 50 EMA on the daily chart) will be the confirming signal, with targets at key support levels 1820.00 (144 EMA on the daily chart), 1813.00 (200 EMA on the daily chart), 1800.00.

This image is no longer relevant

The breakdown of the support levels 1722.00 (23.6% Fibonacci level), 1715.00 (200 EMA on the weekly chart) will jeopardize the entire long-term bullish trend of gold, sending XAU/USD inside the downward channel on the weekly chart of the pair (its lower border is near the 1500.00 mark).

Support levels: 1919.00 1900.00 1896.00 1885.00 1875.00 1860.00 1843.00 1820.00 1813.00 1800.00 1788.00 1762.00 1722.00 1715.0

Resistance levels: 1937.00, 1958.00, 2000.00

Trading scenarios

Sell Stop 1918.00. Stop-Loss 1941.00. Take-Profit 1900.00, 1896.00, 1885.00, 1875.00, 1860.00, 1843.00, 1820.00, 1813.00, 1800.00, 1788.00, 1762.00, 1722.00, 1715.00

Buy Stop 1941.00. Stop-Loss 1918.00. Take-Profit 1955.00, 2000.00

Jurij Tolin,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $8000 अधिक!
    में मार्च हम आकर्षित करते हैं $8000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback