Description:
The counter XAUUSD was in the resistance trend line from 01st February. The support trend line has been tested twice at the prices 1869.76 and 1874.62. Today the counter breaks the trend line at the price of 1841.90 and it is expected to move upwards. Therefore long is more preferable for this counter and the bullish trend is expected to continue further. The upward movement of the MACD indicator gives additional support to the description.
The major levels for this counter are
R2 –1858.28
R1 –1848.22
PP –1838.52
S1 –1828.46
S2 –1818.76
The counter XAUUSD was in the resistance trend line from 01st February. The support trend line has been tested twice at the prices 1869.76 and 1874.62. Today the counter breaks the trend line at the price of 1841.90 and it is expected to move upwards. Therefore long is more preferable for this counter and the bullish trend is expected to continue further. The upward movement of the MACD indicator gives additional support to the description.
The major levels for this counter are
R2 –1858.28
R1 –1848.22
PP –1838.52
S1 –1828.46
S2 –1818.76