Source: PaxForex Premium Analytics Portal, Technical Insight
Gold prices fell to their lowest level in almost two weeks on Monday amid a stronger dollar, while investors are waiting for the Federal Reserve to comment this week.
GOLD/USD, 30 min
Pivot: 1911.50
Analysis:
Provided that the price is below 1927.00 follow these recommendations:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1911.50
- Take Profit 1: 1896.00
- Take Profit 2: 1882.00
Alternative scenario:
In case of breakout of the level 1927.00 follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1927.00
- Take Profit 1: 1934.00
- Take Profit 2: 1943.00
Comment:
RSI shows a downtrend within a day.
Key levels:
Resistance | Support |
1943.00 | 1896.00 |
1934.00 | 1882.00 |
1927.00 | 1872.00 |
GOLD/USD, D1
Pivot: 1915.50
Analysis:
As long as the price is below 1975.00 follow these recommendations:
- Time frame: D1
- Recommendation: short position
- Entry point: 1915.50
- Take Profit 1: 1862.00
- Take Profit 2: 1820.00
Alternative scenario:
In case of breakout of the level 1975.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1975.00
- Take Profit 1: 2015.00
- Take Profit 2: 2075.00
Comment:
RSI shows a downtrend in the medium term.
Key levels:
Resistance | Support |
2075.00 | 1862.00 |
2015.00 | 1820.00 |
1975.00 | 1760.00 |