Forex Technical Analysis for XAUUSD July 22, 2014

Monthly chart

According to forex technical analysis for XAUUSD on monthly chart we observe the price to move within triangular formation.
Price is below EMA(50) and EMA(200).

The area 1272.00 - 1325.00 is neutral zone.
If price moves above neutral zone our trading targets will be: 1559.00 , 1750.00 , 1790.00 .
If price moves below neutral zone our trading targets will be: 1180.00 , 1083.00 , 919.00 .
 

Weekly chart

Studying forex technical analysis for weekly chart , price moves below EMA(50) and EMA(200).
Also find support from the lower channel of Andrews Pitchfork.

The area 1295.00 – 1311.00 is neutral zone.
If price moves above the neutral zone, our trading targets will be: 1345.00 , 1390.00 , 1436.00 , 1520.00 .
If price moves below the neutral zone our trading targets will be: 1237.00 , 1180.00 , 1100.00.
 

Daily chart

We observe the price to remain between EMA(50) and EMA(200).
The area 1308.00 – 1319.00 is neutral zone.


For as long price continue to moves below the neutral zone our trading targets will be: 1298.00 , 1291.00 , 1277.00 .
If price moves above the neutral zone our trading targets will be: 1329.00 , 1337.00 , 1345.00 , 1354.00 , 1371.00 , 1389.00 .

Our personal forex trading strategy is to search for an entry point in order to buy XAUUSD in daily timeframe.
 
We note the need to use stop loss levels. After all the above informations we can design a forex trading strategy in order to follow, which will have based on forex technical analysis.


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