empty
 
 
22.11.2016 12:50 PM
XAU/USD bounced perfectly above our buying level, remain bullish

Price has bounced perfectly yesterday above our major support at 1202.86 (Fibonacci projection, Fibonacci retracement, horizontal swing low support) and we expect a push up from here towards 1231.91.

RSI (34) is seeing major bullish divergence vs price signalling a major reversal is approaching.

Stochastic (21,5,3) is seeing major support from 5.55% signalling a bounce is impending.

Buy above 1202.86. Stop loss at 1180.91. Take profit at 1231.91.

This image is no longer relevant

Dean Leo,
Analytical expert of InstaForex
© 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.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 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

Can't speak right now?
Ask your question in the chat.
Widget callback