Technical Analytics Report

Technical Analysis Report 31 Dec. ' 2021

Wave analysis for XAU/USD:

This currency may show trends of development.

The fifth wave of the upper level (5) is forming on the daily chart, within which the first entry wave 1 of (5), a correctional wave 2 of (5), and wave 3 of (5) is created. The first wave of the lower level I of 3 is currently evolving, within which a local correction as wave (iv) of I has concluded. If the assumption is correct, the pair will rise to levels between 1919.90 and 2067.60 during wave (v) of i. The essential stop loss level in this situation is 1752.82.

The primary scenario

During the correction, long positions will become significant above the level of 1752.82, with 1919.90–2067.60. Time to implement: 7 days or more.

The Alternative scenario:

The pair will drop to the levels of 1681.52–1620.43 if the price breaks down and consolidates below 1752.82.

Gold 31

 

 

GBP/NZD prediction for today:

Let’s have a look at the chart over the last four hours. The Tenkan-sen line is above the Kijun-sen line, and the lines are parallel. The Chikou Span confirmation line is above the price chart, and the present cloud increases. The instrument trades above the Tenkan-sen and Kijun-sen lines, indicating that the bullish trend remains intact. The Kijun-sen line is the closest level of support (1.9690). One of the previous Chikou Span line maximums is projected to act as a resistance level (1.9915).

The Tenkan-sen line lies above the Kijun-sen line on the daily chart, and the lines are horizontal. The Chikou Span confirmation line is above the price chart, and the present cloud has reversed. The instrument trades above the Tenkan-sen and Kijun-sen lines, indicating that the bullish trend remains intact. The Kijun-sen line is the closest level of support (1.9671). One of the previous Chikou Span line maximums is projected to act as a resistance level (1.9972).

It is suggested that long positions be opened at the current price with a Take Profit at the previous maximum of the Chikou Span (1.9915) line and a Stop Loss at the Kijun-sen line (1.9690).


GBPNZD 31



PMI for manufacturing. 03:00 (GMT+2) China:

At 03:00 (GMT+2), the Chinese Manufacturing PMI for December will be released. The indicator is based on answers from businesses regarding their purchase activities and supply situations. At the same time, buying managers’ attitudes of the current economic crisis and its prospects for further development are mixed.