Source: PaxForex Premium Analytics portal, Technical Insight
Gold trades at 1739 and continues to move within the growth framework. GOLD/USD quotes are moving above the upper boundary of Ichimoku Kinko Hyo Cloud. This indicates a bullish trend.
GOLD/USD, 30 min
Pivot: 1736.60
Analysis:
Provided that the price is above 1732.00, please follow these recommendations:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1736.60
- Take Profit 1: 1744.00
- Take Profit 2: 1750.00
Alternative scenario:
In case of breakdown of the level 1732.00 and the consolidation of the price above this level, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1732.00
- Take Profit 1: 1727.00
- Take Profit 2: 1722.00
Comment:
RSI shows the possibility of an uptrend.
Key levels:
Resistance | Support |
1757.00 | 1732.00 |
1750.00 | 1727.00 |
1744.00 | 1722.00 |
GOLD/USD, D1
Pivot: 1740.00
Analysis:
As long as the price is above 1695.00, please follow these recommendations:
- Time frame: D1
- Recommendation: long position
- Entry point: 1740.00
- Take Profit 1: 1765.00
- Take Profit 2: 1805.00
Alternative scenario:
In case of breakdown of the level 1695.00 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1695.00
- Take Profit 1: 1660.00
- Take Profit 2: 1610.00
Comment:
RSI shows an upward trend in the medium-term.
Key levels:
Resistance | Support |
1835.00 | 1695.00 |
1805.00 | 1660.00 |
1765.00 | 1610.00 |