Source: PaxForex Premium Analytics Portal, Technical Insight
Gold prices moved lower on Thursday, retreating from a two-week high due to rising U.S. Treasury bond yields and a stronger dollar.
GOLD/USD, 30 min
Pivot: 1731.00
Analysis:
Provided that the price is below 1741.00, follow these recommendations:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1731.00
- Take Profit 1: 1719.00
- Take Profit 2: 1707.00
Alternative scenario:
In case of breakout of the level 1741.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1741.00
- Take Profit 1: 1747.00
- Take Profit 2: 1756.00
Comment:
RSI shows a downtrend within a day.
Key levels:
| Resistance | Support |
| 1756.00 | 1719.00 |
| 1747.00 | 1707.00 |
| 1741.00 | 1700.00 |
GOLD/USD, D1
Pivot: 1735.00
Analysis:
Provided that the price is below 1780.00, follow these recommendations:
- Time frame: D1
- Recommendation: short position
- Entry point: 1735.00
- Take Profit 1: 1670.00
- Take Profit 2: 1610.00
Alternative scenario:
In case of breakout of the level 1780.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1780.00
- Take Profit 1: 1820.00
- Take Profit 2: 1850.00
Comment:
RSI shows a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1850.00 | 1670.00 |
| 1820.00 | 1610.00 |
| 1780.00 | 1570.00 |
