XAU/USD | Gold Price Trading Analysis 6.03.2020

XAU/USD | Gold Price Trading Analysis 6.03.2020

Written by: PaxForex analytics dept - Friday, 06 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 1690.00
  • Take Profit Level: 1720.00 (3000 pips)

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

  •  Timeframe: H4
  •  Recommendation: Short Position
  •  Entry Level: Short Position 1660.00
  • Take Profit Level: 1650.00 (1000 pips)

USDJPY 
A possible short position in the breakdown of the level 105.20

GBPUSD 
A possible long position at the breakout of the level 1.3000

USDCHF
A possible short position in the breakdown of the level 0.9380

EURUSD
A possible long position at the breakout of the level 1.1290