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Market Outlook
Daily Technical Analysis: Gold Break and Retest? - Zeal Capital Market

Daily Technical Analysis: Gold Break and Retest?

20-12-2021 09:22

ZFX Indonesia – Today's daily analysis will focus on Forex, Indices, Cryptocurrencies (BTCUSD) and American Stocks (Disney). Also, at the end of the article there is an AUDUSD trading idea (signal) that might be an insight for you.

Every afternoon in the London session, ZFX provides a technical analysis or outlook in the form of a video, don't forget to check it here.

So how about today's Pre-London Analysis?

Before you start trading, you need to do some analysis first. Here's a little summary of today's market (20/12/2021) from ZFX's Analysts:

XAUUSD Technical Analysis - Commodities

XAUUSD Technical Analysis
Graph taken from TradingView

XAUUSD (Gold) has broken ranging area and has retested from a key level that previously became a resistance. As we anticipated, gold has retraced from the resistance at H4. Now it has closed bullish on the H4 candle which indicates that the pair is ready to move up towards the previous resistance at 1811 or further up to the 1840 area.

BTCUSD Technical Analysis - Cryptocurrency

BTCUSD Technical Analysis
Graph taken from TradingView

BTCUSD is in a ranging area with a downtrend. As the chart above shows, there is a descending trendline that is ready to send BTCUSD to fall deeper, namely to the previous support area, or up to a wickfill to the 40,000 area.

Disney Technical Analysis - American Stocks

DIS Technical Analysis
Graph taken from TradingView

Disney shares are still in a strong downtrend, marked by daily moves below the 50, 100, and 200 MA lines with the distance between the lines widening, signaling a long journey for Disney stock decline. In addition, Disney shares, which have crossed the 166 area, added to the confirmation of the decline.

Trading Idea - AUDUSD (Buy Limit)

AUDUSD Technical Analysis
Graph taken from TradingView

Order: Buy Limit
Entry: 0.71025
Stop Loss: 0.70620
Target 1:  0.71400 (50% + BE)
Target 2: 0.71800 (25%)
Target 3: 0.72200 (25%)
Risk total: 1-2% Equity (Medium Risk Setup)
Reason: Bullish trend reversal, trendline + demand area to push AUDUSD up.

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Disclaimer: Trading ideas by this website are provided as general market information for educational purposes. There is a risk of losing money in trading. Past performance is not necessarily indicative of future results.

Risk Warning: The above content is for reference only, and does not represent ZFX’s position. ZFX does not assume any form of loss caused by any trading operations carried out in accordance with this article. Please be firm in your thinking and do the corresponding risk control.

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