Forecast for Q1'16 - levels for GOLD (XAU/USD) - page 5

[Sergey Golubev]

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Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2016.03.30 18:50

Forecast for Tomorrow - levels for EUR/USD and GOLD (XAU/USD)

EUR/USD: ranging below 50.0% Fibo support level. This pair on intra-day H4 price is located to be above 100/200 period SMA for the bullish market condition. The price was on bullish breakout, and it is started to be ranging within Fibo resistance level at 1.1364 and 50.0% Fibo support level at 1.1254.

• if the price breaks Fibo resistance level at 1.1364 so the primary bullish trend will be continuing;
• if the price breaks 50.0% Fibo support level at 1.1254 so the local downtrend as the secondary correction within the primary bullish will be started;
  
• if not so the price will be moved within the channel.

Resistance	Support
1.1332	1.1254
1.1364	1.1143

GOLD (XAU/USD): ranging on reversal. Intra-day H4 price is located near and below 100/200 SMA ranging area waiting for direction: price is ranging within the following key reversal s/r levels:

• 1244.05 resistance level located in the beginning of the bullish area of the intra-day chart, and
• 1208.23 support level located below 100/200 SMA area in the primary bearish area.
  

RSI indicator is estinating the bearish trend to be started.

• if the price breaks 1244.05 resistance so the reversal of the price movement from the ranging bearish to the primary bullish market condition will be started;
• if the price breaks 1208.23 support level so the primary bearish trend will be continuing without ranging up to the new 'bottom' to be forming;
  
• if not so the price will be moved within the channel.

Resistance	Support
1244.05	1214.72
1263.34	1208.23