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:

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: