Analysis of GOLD 5.03.2020

Analysis of GOLD 5.03.2020

Written by: PaxForex analytics dept - Thursday, 05 March 2020 0 comments

The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.

If the level of resistance is broken, you should follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position 1653.00
  • Take Profit Level: 1670.00 (1700 pips)

If the price rebound from resistance level, you should follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position 1632.00
  • Take Profit Level: 1622.00 (1000 pips)

USDJPY 
A possible short position in the breakdown of the level 106.70

GBPUSD 
A possible long position at the breakout of the level 1.2935

USDCHF
A possible short position in the breakdown of the level 0.9510

EURUSD
A possible long position at the breakout of the level 1.1185