GOLD - USD - Daily - Technical analysis published on 08/04/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1,909.60 USD
My targets
2,053.93 USD (+4.04%)
2,132.29 USD (+8.01%)
My analysis
GOLD - USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1,909.60 USD. The next resistance located at 2,053.93 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2,132.29 USD. After this resistance, buyers could then target 2,280.46 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.8
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This analysis was given by Edd8011. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GOLD - USD price is 1,974.21 USD. The price is lower by -0.06% since the last closing and was traded between 1,972.91 USD and 1,976.06 USD over the period. The price is currently at +0.07% from its lowest and -0.09% from its highest.1,972.91
1,976.06
1,974.21
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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
Technical analysis of GOLD - USD in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
Price
S3 | S2 | S1 | Price | |
---|---|---|---|---|
ProTrendLines | 1,683.93 | 1,809.27 | 1,909.60 | 1,974.21 |
Change (%) | -14.70% | -8.35% | -3.27% | - |
Change | -290.28 | -164.94 | -64.61 | - |
Level | Major | Intermediate | Major | - |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,930.91 | 1,945.77 | 1,960.60 | 1,975.46 | 1,990.29 | 2,005.15 | 2,019.98 |
Camarilla | 1,967.27 | 1,969.99 | 1,972.71 | 1,975.43 | 1,978.15 | 1,980.87 | 1,983.60 |
Woodie | 1,930.90 | 1,945.76 | 1,960.59 | 1,975.45 | 1,990.28 | 2,005.14 | 2,019.97 |
Fibonacci | 1,945.77 | 1,957.11 | 1,964.12 | 1,975.46 | 1,986.80 | 1,993.81 | 2,005.15 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,837.84 | 1,868.80 | 1,922.19 | 1,953.15 | 2,006.54 | 2,037.50 | 2,090.89 |
Camarilla | 1,952.37 | 1,960.11 | 1,967.84 | 1,975.57 | 1,983.30 | 1,991.03 | 1,998.77 |
Woodie | 1,849.05 | 1,874.41 | 1,933.40 | 1,958.76 | 2,017.75 | 2,043.11 | 2,102.10 |
Fibonacci | 1,868.80 | 1,901.03 | 1,920.93 | 1,953.15 | 1,985.38 | 2,005.28 | 2,037.50 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,600.87 | 1,679.23 | 1,827.40 | 1,905.76 | 2,053.93 | 2,132.29 | 2,280.46 |
Camarilla | 1,913.27 | 1,934.04 | 1,954.81 | 1,975.57 | 1,996.34 | 2,017.10 | 2,037.87 |
Woodie | 1,635.78 | 1,696.68 | 1,862.31 | 1,923.21 | 2,088.84 | 2,149.74 | 2,315.37 |
Fibonacci | 1,679.23 | 1,765.76 | 1,819.23 | 1,905.76 | 1,992.29 | 2,045.76 | 2,132.29 |
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): | 81.42 | |
MACD (12,26,9): | 54.9600 | |
Directional Movement: | 31.20 | |
AROON (14): | 85.72 | |
DEMA (21): | 1,961.61 | |
Parabolic SAR (0,02-0,02-0,2): | 1,918.91 | |
Elder Ray (13): | 50.99 | |
Super Trend (3,10): | 1,887.41 | |
Zig ZAG (10): | 1,974.20 | |
VORTEX (21): | 1.3500 | |
Stochastique (14,3,5): | 93.24 | |
TEMA (21): | 1,987.86 | |
Williams %R (14): | -8.69 | |
Chande Momentum Oscillator (20): | 163.62 | |
Repulse (5,40,3): | 0.9600 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.3600 | |
Courbe Coppock: | 17.15 |
MA7: | 1,967.17 | |
MA20: | 1,876.65 | |
MA50: | 1,795.86 | |
MA100: | 1,733.89 | |
MAexp7: | 1,955.26 | |
MAexp20: | 1,893.62 | |
MAexp50: | 1,819.66 | |
MAexp100: | 1,752.56 | |
Price / MA7: | +0.36% | |
Price / MA20: | +5.20% | |
Price / MA50: | +9.93% | |
Price / MA100: | +13.86% | |
Price / MAexp7: | +0.97% | |
Price / MAexp20: | +4.26% | |
Price / MAexp50: | +8.49% | |
Price / MAexp100: | +12.65% |
Quotes :
2020-08-04 00:39:51
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Real time data
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Gold & Silver Spot
News
The latest news and videos published on GOLD - USD at the time of the analysis were as follows:
- Gold and Silver Forecast August 4, 2020
- Gold Technical Analysis for August 4, 2020 by FXEmpire
- Navy’s First Black Female Tactical Fighter Pilot Receives Wings of Gold | NBC Nightly News
- Gold and Silver Forecast August 3, 2020
- Gold Technical Analysis for the Week of August 3, 2020 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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