Source: PaxForex Premium Analytics Portal, Technical Insight
Gold prices hit a three-and-a-half-month high due to falling U.S. Treasury yields and lingering inflation concerns.
GOLD/USD, 30 min
Pivot: 1876.00
Analysis:
Provided that the price is above 1861.00, follow these recommendations:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1876.00
- Take Profit 1: 1890.00
- Take Profit 2: 1900.00
Alternative scenario:
In case of breakdown of the level 1861.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1861.00
- Take Profit 1: 1851.00
- Take Profit 2: 17843.00
Comment:
RSI shows an uptrend within a day.
Key levels:
| Resistance | Support |
| 1915.00 | 1861.00 |
| 1900.00 | 1851.00 |
| 1890.00 | 1843.00 |
GOLD/USD, D1
Pivot: 1873.00
Analysis:
Provided that the price is above 1800.00, follow these recommendations:
- Time frame: D1
- Recommendation: long position
- Entry point: 1873.00
- Take Profit 1: 1915.00
- Take Profit 2: 1960.00
Alternative scenario:
In case of breakdown of the level 1800.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1800.00
- Take Profit 1: 1765.00
- Take Profit 2: 1730.00
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 2000.00 | 1800.00 |
| 1960.00 | 1765.00 |
| 1915.00 | 1730.00 |
