TECHNICAL ANALYSIS STRATEGIES ON XAU/USD (GOLD/US DOLLAR) TRADING FOR PROFITABILITY IN THE FOREIGN EXCHANGE (FOREX) MARKET

Hutagalung, Regina Prita Masaki (2021) TECHNICAL ANALYSIS STRATEGIES ON XAU/USD (GOLD/US DOLLAR) TRADING FOR PROFITABILITY IN THE FOREIGN EXCHANGE (FOREX) MARKET. S1 thesis, UNIVERSITAS ATMA JAYA YOGYAKARTA.

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Abstract

This research analyzes the strength of the technical analysis in predicting the trend of the market and future price movement of XAU/USD in the Foreign Exchange (FOREX) market. The experiment is expected to lead into several interesting findings about the use of technical analysis and whether it can be a useful strategy for XAU/USD trading. The research is performed in the period of 3 months using qualitative research design, where the trend reversal patterns are discovered using 3 technical indicators, the Bollinger Bands, Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and the candlestick chart as the tool. 50 transactions were entered using the Meta Trader 4 & 5 platform and each position was categorized based on different time frames. The results showed that technical analysis is effective in obtaining profitability in XAU/USD trading where 62% of the positions resulted in a profit.

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