GOLD - USD - 1H - Technical analysis published on 04/07/2020 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
17%
44%
39%
My opinion
Bullish above 1,644.43 USD
My targets
1,676.22 USD (+1.30%)
1,713.30 USD (+3.54%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 1,644.43 USD remains possible. It is advisable to trade GOLD - USD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 1,644.43 USD. The next bullish objective for buyers is set at 1,676.22 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,713.30 USD. If there is any crossing, the next objective would be the resistance located at 1,792.46 USD. PS: if there is a bearish break in the support located at 1,644.43 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
FORCE
0
10
3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GOLD - USD price is 1,654.74 USD. The price has increased by -0.59% since the last closing and was between 1,644.02 USD and 1,669.48 USD. This implies that the price is at +0.65% from its lowest and at -0.88% from its highest.1,644.02
1,669.48
1,654.74
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
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 (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GOLD - USD chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, only 8 technical indicators out of 18 studied are currently positioned bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,614.19 | 1,635.62 | 1,644.43 | 1,654.74 | 1,676.22 | 1,792.46 | 1,909.60 |
| Change (%) | -2.45% | -1.16% | -0.62% | - | +1.30% | +8.32% | +15.40% |
| Change | -40.55 | -19.12 | -10.31 | - | +21.48 | +137.72 | +254.86 |
| Level | Intermediate | Intermediate | Minor | - | Major | Minor | Intermediate |
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 | 1,557.32 | 1,583.20 | 1,623.90 | 1,649.78 | 1,690.48 | 1,716.36 | 1,757.06 |
| Camarilla | 1,646.29 | 1,652.39 | 1,658.50 | 1,664.60 | 1,670.70 | 1,676.81 | 1,682.91 |
| Woodie | 1,564.73 | 1,586.91 | 1,631.31 | 1,653.49 | 1,697.89 | 1,720.07 | 1,764.47 |
| Fibonacci | 1,583.20 | 1,608.63 | 1,624.35 | 1,649.78 | 1,675.21 | 1,690.93 | 1,716.36 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,513.74 | 1,541.41 | 1,580.26 | 1,607.93 | 1,646.78 | 1,674.45 | 1,713.30 |
| Camarilla | 1,600.83 | 1,606.93 | 1,613.02 | 1,619.12 | 1,625.22 | 1,631.32 | 1,637.41 |
| Woodie | 1,519.34 | 1,544.21 | 1,585.86 | 1,610.73 | 1,652.38 | 1,677.25 | 1,718.90 |
| Fibonacci | 1,541.41 | 1,566.82 | 1,582.52 | 1,607.93 | 1,633.34 | 1,649.04 | 1,674.45 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,200.40 | 1,325.85 | 1,452.40 | 1,577.85 | 1,704.40 | 1,829.85 | 1,956.40 |
| Camarilla | 1,509.66 | 1,532.76 | 1,555.86 | 1,578.96 | 1,602.06 | 1,625.16 | 1,648.26 |
| Woodie | 1,200.96 | 1,326.13 | 1,452.96 | 1,578.13 | 1,704.96 | 1,830.13 | 1,956.96 |
| Fibonacci | 1,325.85 | 1,422.11 | 1,481.58 | 1,577.85 | 1,674.11 | 1,733.58 | 1,829.85 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 53.37 | |
| MACD (12,26,9): | 5.6700 | |
| Directional Movement: | 5.19 | |
| AROON (14): | -64.29 | |
| DEMA (21): | 1,664.05 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,669.48 | |
| Elder Ray (13): | 0.99 | |
| Super Trend (3,10): | 1,642.59 | |
| Zig ZAG (10): | 1,657.19 | |
| VORTEX (21): | 1.0800 | |
| Stochastique (14,3,5): | 29.25 | |
| TEMA (21): | 1,661.92 | |
| Williams %R (14): | -56.54 | |
| Chande Momentum Oscillator (20): | -1.24 | |
| Repulse (5,40,3): | -0.0200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 0.18 |
| MA7: | 1,620.25 | |
| MA20: | 1,583.23 | |
| MA50: | 1,597.55 | |
| MA100: | 1,553.43 | |
| MAexp7: | 1,657.89 | |
| MAexp20: | 1,654.75 | |
| MAexp50: | 1,640.82 | |
| MAexp100: | 1,627.47 | |
| Price / MA7: | +2.13% | |
| Price / MA20: | +4.52% | |
| Price / MA50: | +3.58% | |
| Price / MA100: | +6.52% | |
| Price / MAexp7: | -0.18% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | +0.86% | |
| Price / MAexp100: | +1.69% |
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:
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This member declared not having a position on this financial instrument or a related financial instrument.
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