empty
 
 
10.05.2023 02:30 PM
XAU/USD Outlook for May 10, 2023

This image is no longer relevant

Our main forecast involves betting on further growth of XAU/USD. In the current situation of uncertainty, cautious investors prefer to stay "in gold." Its quotes last week and the day after the Fed meeting jumped to a new record high of 2077.00, updating the March high of last year at 2070.00.

This image is no longer relevant

Subsequently the XAU/USD pair declined, but its upward dynamic persists. A signal for increasing long positions could be the breakout of the local resistance level at 2037.00. The nearest growth target is located at the local resistance level of 2048.00, and the distant one is in the area of record highs at 2070.00 and 2077.00.

In an alternative scenario, after breaking the support levels of 1990.00 (200 EMA on the 4-hour chart), and 1973.00 (50 EMA on the daily chart), the price will move towards key support levels at 1896.00 (144 EMA on the daily chart and 61.8% Fibonacci level in the downward correction wave from its peak at 2070.00 to its low at 1615.00), and 1870.00 (200 EMA on the daily chart).

This image is no longer relevant

The first signal for implementing this scenario could be the breadown of the support level at 2019.00 (200 EMA on the 1-hour chart).

Support levels: 2029.00, 2019.00, 2010.00, 2000.00, 1990.00, 1973.00, 1954.00, 1896.00, 1870.00, 1843.00, 1800.00

Resistance levels: 2037.00, 2048.00, 2070.00, 2077.00

Summary
Urgency
Analytic
Jurij Tolin
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Junio, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback