XAU/USD trading update on 20/04/2020


Product: XAU/USD

Trend directions of the Time frames:

H4: Up

D1: Up

W1: Up

MN1:  Down

TA methods: EW

The chart in details:


  1. met weekly resistance between $1,705.xx-1,755.xx;
  2. probably end of B leg from expanded flat correction;
  3. current support zone at 1,670.xx;
  4. keep watching the price actions, in case it breaks down the lower area below 1638.xx, then a change of direction is confirmed;
  5. Resistance zone is immediately to see at 1,705.70-1,740.xx;
  6. if H4 candle closed below 1,638.xx, C leg of the intermediate degree is confirmed;
  7. 1,48x.xx should be the first demand zone we have for the C leg.

Trade well!

Tradingscenes team

Thông tin thành viên
Forex, stocks, commodities Trader & Markets Analyst. Makkaba Co., Ltd. ST&C

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