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Market Outlook
Technical Analysis: XAUUSD Needs to Retrace First! - Zeal Capital Market

Technical Analysis: XAUUSD Needs to Retrace First!

29-12-2021 12:02

ZFX – Today’s technical analysis will focus on Forex, Indices, American Stocks and Cryptocurrency. Also, at the end of the article there is a trading idea (signal) NZDUSD that may be an insight for you.

Every afternoon during the London session, ZFX Indonesia provides technical analysis or outlook in the form of video, don’t forget to check the video analysis on our YouTube channel!

Well how about today’s Analysis?

Before you start trading, you need to do an analysis first. Here is a brief summary of today’s market outlook(29/12/2021) from our ZFX Analyst:

XAUUSD Technical Analysis -Commodities

Technical Analysis: XAUUSD Needs to Retrace First! - Zeal Capital Market
Graph taken from TradingView

XAUUSD or Gold rejected H4 resistance in the 1812 area. Now it retraces to the key level 1800 to go back up. Gold will continue to be in a bullish trend as long as it does not break the 1787 support area.

LTCUSD Technical Analysis -Cryptocurrency

LTCUSD Technical Analysis
Graph taken from TradingView

LTCUSD was successful in breaking the support H4 and the daily timeframe is still closed above the support of the ranking area. Structurally, H4, LTC clearly looks bearish and will probably bounce down from the key level 153.7 area.

Disney Technical Analysis – US Stocks

Technical Analysis: XAUUSD Needs to Retrace First! - Zeal Capital Market
Graph taken from TradingView

Disney shares are observed to break resistance at 153.8 on a daily basis after forming a higher low. This proves that Disney’s stock has formed a bullish structure in the short term. Now it is very possible for DISS to move up into the gap area around 168 areas.

Trading Idea – NZDUSD (Sell Stop)

Technical Analysis: XAUUSD Needs to Retrace First! - Zeal Capital Market
Graph taken from TradingView

Order: Sell Stop
Entry: 0.67873
Stop Loss: 0.68287
Target 1:  0.67600 (50% + BE)
Target 2: 0.67400(25%)
Target 3: 0.6700 (25%)
Risk total: 1-2% Equity (High Risk Setup)
Reason: Bearish Structure+ Rejecting key level area.

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.

ZFX (Zeal Capital Market) is an FCA & FSA licensed online Forex & CFD broker providing more than 100 products for Forexcommoditiesstock indices, and share CFDsOpen a trading account with min. USD 50 deposit and download our MT4 trading platform now!