Source: PaxForex Premium Analytics Portal, Technical Insight

The cost of one troy ounce of gold for the first time in history has exceeded $2000. Thus, the value of this precious metal has updated the historical maximum.

GOLD/USD, 30 min

Pivot: 2021.03

Analysis:

Provided that the price is above 2007.00, please follow these recommendations:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 2021.03
• Take Profit 1: 2031.00
• Take Profit 2: 2042.00

Alternative scenario:

In case of breakdown of the level 2007.00 and the consolidation of the price below this level, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 2007.00
• Take Profit 1: 2000.00
• Take Profit 2: 1993.00

Comment:

RSI shows the possibility of an ascending momentum.

Key levels:

GOLD/USD, D1

Pivot: 2023.00

Analysis:

As long as the price is above 1935.00, please follow these recommendations:

• Time frame: D1
• Recommendation: long position
• Entry point: 2023.00
• Take Profit 1: 2070.00
• Take Profit 2: 2130.00

Alternative scenario:

In case of breakdown of the level 1935.00 follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1935.00
• Take Profit 1: 1900.00
• Take Profit 2: 1865.00

Comment:

RSI shows an uptrend in the medium term. 

Key levels: