GOLD - USD - 1H - Technical analysis published on 05/06/2021 (GMT)
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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
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
0%
39%
My opinion
Bullish above 1,799.13 USD
My targets
1,855.57 USD (+2.25%)
1,909.60 USD (+5.23%)
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 1,799.13 USD. The buyers” bullish objective is set at 1,855.57 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,909.60 USD. If there is any crossing, the next objective would be the resistance located at 1,950.96 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
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This analysis was given by mmoussawi. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GOLD - USD rating 1,814.68 USD. The price has increased by +1.65% since the last closing with the lowest point at 1,782.03 USD and the highest point at 1,818.17 USD. The deviation from the price is +1.83% for the low point and -0.19% for the high point.1,782.03
1,818.17
1,814.68
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GOLD - USD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a moderate bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,790.01 | 1,794.49 | 1,799.13 | 1,814.68 | 1,855.57 | 1,909.60 | 1,950.96 |
| Change (%) | -1.36% | -1.11% | -0.86% | - | +2.25% | +5.23% | +7.51% |
| Change | -24.67 | -20.19 | -15.55 | - | +40.89 | +94.92 | +136.28 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Major | 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 | 1,756.84 | 1,763.62 | 1,774.47 | 1,781.25 | 1,792.10 | 1,798.88 | 1,809.73 |
| Camarilla | 1,780.46 | 1,782.08 | 1,783.69 | 1,785.31 | 1,786.93 | 1,788.54 | 1,790.16 |
| Woodie | 1,758.87 | 1,764.64 | 1,776.50 | 1,782.27 | 1,794.13 | 1,799.90 | 1,811.76 |
| Fibonacci | 1,763.62 | 1,770.36 | 1,774.52 | 1,781.25 | 1,787.99 | 1,792.15 | 1,798.88 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,719.77 | 1,738.00 | 1,753.55 | 1,771.78 | 1,787.33 | 1,805.56 | 1,821.11 |
| Camarilla | 1,759.81 | 1,762.91 | 1,766.00 | 1,769.10 | 1,772.20 | 1,775.29 | 1,778.39 |
| Woodie | 1,718.43 | 1,737.33 | 1,752.21 | 1,771.11 | 1,785.99 | 1,804.89 | 1,819.77 |
| Fibonacci | 1,738.00 | 1,750.90 | 1,758.88 | 1,771.78 | 1,784.68 | 1,792.66 | 1,805.56 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,625.15 | 1,665.46 | 1,717.28 | 1,757.59 | 1,809.41 | 1,849.72 | 1,901.54 |
| Camarilla | 1,743.76 | 1,752.21 | 1,760.66 | 1,769.10 | 1,777.55 | 1,785.99 | 1,794.44 |
| Woodie | 1,630.91 | 1,668.34 | 1,723.04 | 1,760.47 | 1,815.17 | 1,852.60 | 1,907.30 |
| Fibonacci | 1,665.46 | 1,700.65 | 1,722.40 | 1,757.59 | 1,792.78 | 1,814.53 | 1,849.72 |
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): | 74.37 | |
| MACD (12,26,9): | 7.4900 | |
| Directional Movement: | 20.86 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 1,815.98 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,804.13 | |
| Elder Ray (13): | 4.28 | |
| Super Trend (3,10): | 1,804.15 | |
| Zig ZAG (10): | 1,814.71 | |
| VORTEX (21): | 1.3200 | |
| Stochastique (14,3,5): | 87.26 | |
| TEMA (21): | 1,819.22 | |
| Williams %R (14): | -13.93 | |
| Chande Momentum Oscillator (20): | 22.19 | |
| Repulse (5,40,3): | 0.0200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0600 | |
| Courbe Coppock: | 2.52 |
| MA7: | 1,785.31 | |
| MA20: | 1,772.80 | |
| MA50: | 1,745.12 | |
| MA100: | 1,797.68 | |
| MAexp7: | 1,813.57 | |
| MAexp20: | 1,806.30 | |
| MAexp50: | 1,796.20 | |
| MAexp100: | 1,789.55 | |
| Price / MA7: | +1.65% | |
| Price / MA20: | +2.36% | |
| Price / MA50: | +3.99% | |
| Price / MA100: | +0.95% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.46% | |
| Price / MAexp50: | +1.03% | |
| Price / MAexp100: | +1.40% |
Quotes :
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Real time data
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Gold & Silver Spot
News
The last news published on GOLD - USD at the time of the generation of this analysis was as follows:
-
Gold and AUD/USD Forecast May 7, 2021
-
Gold Technical Analysis for May 7, 2021 by FXEmpire
-
Gold and AUD/USD Forecast May 6, 2021
-
Gold Technical Analysis for May 6, 2021 by FXEmpire
-
Gold and AUD/USD Forecast May 5, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
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