Source: PaxForex Premium Analytics Portal, Technical Insight
Gold fell in price on Tuesday, moving away from its all-time high as the dollar recovered, while silver fell by more than 9% in the trading, and investors switched their attention to the Fed meeting.
GOLD/USD, 30 min
Pivot: 1952.00
Analysis:
Provided that the price is above 1945.00, please follow these recommendations:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1952.00
- Take Profit 1: 1966.00
- Take Profit 2: 1981.00
Alternative scenario:
In case of breakdown of the level 1945.00 and the consolidation of the price below this level, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1945.00
- Take Profit 1: 1934.00
- Take Profit 2: 1923.00
Comment:
RSI shows the possibility of an ascending momentum.
Key levels:
Resistance | Support |
2000.00 | 1945.00 |
1981.00 | 1934.00 |
1966.00 | 1923.00 |
GOLD/USD, D1
Pivot: 1852.00
Analysis:
As long as the price is above 1850.00, please follow these recommendations:
- Time frame: D1
- Recommendation: long position
- Entry point: 1852.00
- Take Profit 1: 2025.00
- Take Profit 2: 2070.00
Alternative scenario:
In case of breakdown of the level 1850.00 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1850.00
- Take Profit 1: 1805.00
- Take Profit 2: 1765.00
Comment:
RSI shows an uptrend in the medium term.
Key levels:
Resistance | Support |
2120.00 | 1850.00 |
2070.00 | 1805.00 |
2025.00 | 1765.00 |