fbAnalisi Tecnica &XAUAUD | Reserve Bank of Australia does not rule out a rate cut | IFCM Italy

Analisi Tecnica &XAUAUD : 2020-10-21

Recommendation XAU AUD:

Buy
Forte Di VendereSellNEUTRALBuyForte Acquistare

Sopra 2700

Buy Stop

Sotto 2600

Stop Loss

Expert Avatar
Senior Analytical Expert
Articoli 1649
IndicatorVALUESignal
RSI Buy
MACD NEUTRAL
MA(200) NEUTRAL
Fractals Buy
Parabolic SAR Buy
Bollinger Bands Buy

Chart Analysis

IFC Markets Tech Analysis

On the daily timeframe, XAUAUD: D1 exceeded the downtrend resistance line. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish move if XAUAUD rises above its last maximum: 2700-2710. This level can be used as an entry point. We can place a stop loss below the Parabolic signal and the lower Bollinger line: 2600. After opening a pending order, we can move the stop loss following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch the 4-hour chart and place a stop loss, moving it in the direction of the bias. If the price meets the stop loss (2600) without activating the order (2700), it is recommended to delete the order: some internal changes in the market have were not been taken into account.

Analisi Fondamentale

In this review, we propose to consider the XAUAUD Personal Composite Instrument (PCI). It reflects the price action of Gold vs the Australian dollar. Is the growth of XAUAUD quotes possible?

XAUAUD moves up with the weakening of the Australian dollar and the rise in gold prices. The main negative factor for the Australian currency is the plans of the RBA to ease its monetary policy and, in particular, to cut the rate to 0.1% from the current 0.25%. This was noted in the RBA Meeting minutes. In theory, the rate could be lowered at the next meeting on November 3. On Tuesday, Assistant Governor RBA Chris Kent said that his department didn't not rule out negative rates, as well as a significant currency issue aimed at bonds buybacks (following the example of the US Federal Reserve's QE program). In turn, gold may rise in price amid growing global risks due to the 2nd wave of coronavirus, uncertainty around the US presidential election, as well as US-China foreign trade disputes. In addition, demand for precious metals may increase if inflation rises and rates remain low in the most developed countries.

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