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Gold Technical Analysis - Gold Trading: 2022-10-03
Gold Euro Technical Analysis Summary
Above 1725
Buy Stop
Below 1645
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Gold Euro Chart Analysis
Gold Euro Technical Analysis
On the daily timeframe, XAUEUR: D1 is in a long - term neutral trend. It approached the 200-day sliding midline, which should be broken up before opening a position. A number of technical analysis indicators formed signals to a further increase. We do not exclude the bullish movement if XAUEUR: D1 rises above the last upper fractal and a 200-day sliding midline: 1725. This level can be used as an entry point. The initial risk restriction is possible below the last lower fractal, the Parabolic signal and the lower line of the Bollinger: 1645. After the opening of the pending order, we move the feet after the signals of the Bollinger and Parabolic to the next fractal minimum. Thus, we change the potential ratio of profit/loss in our favor. After the transaction, the most cautious traders can switch to a four-hour schedule and set the stop loss, moving it in the direction of movement. If the price overcome the level of the foot (1645), without activating the warrant (1725), it is recommended to delete the application: internal changes that were not taken into account on the market.
Fundamental Analysis of Precious Metals - Gold Euro
Precious metals may rise in price against the backdrop of high inflation. Will XAUEUR quotes go up?
Preliminary inflation in Germany (Germany Consumer Price Index) reached 10% y/y in September. This is the highest since 1951. Earlier, inflation in German industry soared to 45.8% y/y in August. All this can increase economic risks and contribute to an increase in demand for gold. We note that preliminary inflation for September in the entire European Union also amounted to 10% y/y. This is much higher than the European Central Bank rate, which is currently 1.25%. On October 4, the speech of the head of the ECB (European Central Bank President Lagarde Speech) is expected, which may affect the dynamics of the euro. The next meeting of the ECB will take place on 27 October. Gold may be supported by a decrease in the yield of the United States 10-Year Bond to 3.7% per annum on Friday from 4% per annum on Wednesday last week.
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