GOLD - USD - Daily - Technical analysis published on 05/07/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
33%
28%
39%
My opinion
Bullish above 2,202.75 USD
My targets
2,390.13 USD (+2.86%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GOLD - USD as long as the price remains well above 2,202.75 USD. The buyers' bullish objective is set at 2,390.13 USD. A bullish break in this resistance would boost the bullish momentum. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
4.5
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This analysis was given by jann1414. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GOLD - USD price is 2,323.75 USD. The price is lower by -0.10% since the last closing and was traded between 2,322.50 USD and 2,330.00 USD over the period. The price is currently at +0.05% from its lowest and -0.27% from its highest.2,322.50
2,330.00
2,323.75
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GOLD - USD chart shows a strongly bullish trend. The signals given by moving averages are 82.14% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
The Central Indicators scanner found this result concerning these indicators:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
Price
S3 | S2 | S1 | Price | R1 | R2 | |
---|---|---|---|---|---|---|
ProTrendLines | 1,988.41 | 2,049.28 | 2,183.68 | 2,323.75 | 2,336.02 | 2,390.13 |
Change (%) | -14.43% | -11.81% | -6.03% | - | +0.53% | +2.86% |
Change | -335.34 | -274.47 | -140.07 | - | +12.27 | +66.38 |
Level | Major | Major | Minor | - | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,261.09 | 2,276.48 | 2,301.25 | 2,316.64 | 2,341.41 | 2,356.80 | 2,381.57 |
Camarilla | 2,314.99 | 2,318.67 | 2,322.35 | 2,326.03 | 2,329.71 | 2,333.39 | 2,337.07 |
Woodie | 2,265.79 | 2,278.83 | 2,305.95 | 2,318.99 | 2,346.11 | 2,359.15 | 2,386.27 |
Fibonacci | 2,276.48 | 2,291.82 | 2,301.30 | 2,316.64 | 2,331.98 | 2,341.46 | 2,356.80 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,200.35 | 2,238.85 | 2,269.77 | 2,308.27 | 2,339.19 | 2,377.69 | 2,408.61 |
Camarilla | 2,281.61 | 2,287.97 | 2,294.34 | 2,300.70 | 2,307.06 | 2,313.43 | 2,319.79 |
Woodie | 2,196.57 | 2,236.96 | 2,265.99 | 2,306.38 | 2,335.41 | 2,375.80 | 2,404.83 |
Fibonacci | 2,238.85 | 2,265.37 | 2,281.75 | 2,308.27 | 2,334.79 | 2,351.17 | 2,377.69 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,999.72 | 2,114.12 | 2,202.75 | 2,317.15 | 2,405.78 | 2,520.18 | 2,608.81 |
Camarilla | 2,235.55 | 2,254.16 | 2,272.77 | 2,291.38 | 2,309.99 | 2,328.60 | 2,347.21 |
Woodie | 1,986.84 | 2,107.68 | 2,189.87 | 2,310.71 | 2,392.90 | 2,513.74 | 2,595.93 |
Fibonacci | 2,114.12 | 2,191.68 | 2,239.59 | 2,317.15 | 2,394.71 | 2,442.62 | 2,520.18 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
RSI (14): | 54.34 | |
MACD (12,26,9): | 16.2800 | |
Directional Movement: | 1.44 | |
AROON (14): | -71.42 | |
DEMA (21): | 2,346.01 | |
Parabolic SAR (0,02-0,02-0,2): | 2,340.69 | |
Elder Ray (13): | 4.67 | |
Super Trend (3,10): | 2,265.09 | |
Zig ZAG (10): | 2,323.88 | |
VORTEX (21): | 1.0200 | |
Stochastique (14,3,5): | 28.00 | |
TEMA (21): | 2,321.84 | |
Williams %R (14): | -67.51 | |
Chande Momentum Oscillator (20): | -66.97 | |
Repulse (5,40,3): | 0.5000 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1800 | |
Courbe Coppock: | 4.04 |
MA7: | 2,314.62 | |
MA20: | 2,340.18 | |
MA50: | 2,246.86 | |
MA100: | 2,139.94 | |
MAexp7: | 2,319.29 | |
MAexp20: | 2,316.43 | |
MAexp50: | 2,253.92 | |
MAexp100: | 2,173.47 | |
Price / MA7: | +0.39% | |
Price / MA20: | -0.70% | |
Price / MA50: | +3.42% | |
Price / MA100: | +8.59% | |
Price / MAexp7: | +0.19% | |
Price / MAexp20: | +0.32% | |
Price / MAexp50: | +3.10% | |
Price / MAexp100: | +6.91% |
Quotes :
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Real time data
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Gold & Silver Spot
News
Don't forget to follow the news on GOLD - USD. At the time of publication of this analysis, the latest news was as follows:
- Gold Daily Forecast and Technical Analysis for May 6, by Chris Lewis, #XAUUSD, #FXEmpire #gold
- Gold Daily Forecast and Technical Analysis for May 06, 2024, by Chris Lewis for FX Empire
- Gold Star families fall victim to Army-appointed ‘con man’
- Gold Long Term Forecast for May 5, by Chris Lewis, for #fxempire #trading #gold #xauusd
- Gold Daily Forecast and Technical Analysis for May 03, 2024 by Bruce Powers, CMT, FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
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