GOLD - USD - Daily - Technical analysis published on 04/16/2024 (GMT)
- 107
- 0
- Timeframe : Daily
- - Analysis generated on
- Status : IN PROGRESS...
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above
My targets
()
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 . The next resistance located at is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. 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
8.6
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This analysis was given by Ralhosni. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GOLD - USD rating 2,383.35 USD. On the day, this instrument gained +0.05% and was traded between 2,363.05 USD and 2,398.33 USD over the period. The price is currently at +0.86% from its lowest and -0.62% from its highest.2,363.05
2,398.33
2,383.35
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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. 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.
In fact, 14 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
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
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
Price
S3 | S2 | S1 | Price | |
---|---|---|---|---|
ProTrendLines | 2,049.28 | 2,079.55 | 2,203.99 | 2,383.35 |
Change (%) | -14.02% | -12.75% | -7.53% | - |
Change | -334.07 | -303.80 | -179.36 | - |
Level | Major | Minor | Intermediate | - |
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 | 2,272.33 | 2,298.34 | 2,340.20 | 2,366.21 | 2,408.07 | 2,434.08 | 2,475.94 |
Camarilla | 2,363.40 | 2,369.62 | 2,375.84 | 2,382.06 | 2,388.28 | 2,394.50 | 2,400.72 |
Woodie | 2,280.26 | 2,302.30 | 2,348.13 | 2,370.17 | 2,416.00 | 2,438.04 | 2,483.87 |
Fibonacci | 2,298.34 | 2,324.27 | 2,340.28 | 2,366.21 | 2,392.14 | 2,408.15 | 2,434.08 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,159.08 | 2,231.02 | 2,287.67 | 2,359.61 | 2,416.26 | 2,488.20 | 2,544.85 |
Camarilla | 2,308.96 | 2,320.75 | 2,332.53 | 2,344.32 | 2,356.11 | 2,367.90 | 2,379.68 |
Woodie | 2,151.44 | 2,227.20 | 2,280.03 | 2,355.79 | 2,408.62 | 2,484.38 | 2,537.21 |
Fibonacci | 2,231.02 | 2,280.14 | 2,310.49 | 2,359.61 | 2,408.73 | 2,439.08 | 2,488.20 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,905.68 | 1,972.37 | 2,103.03 | 2,169.72 | 2,300.38 | 2,367.07 | 2,497.73 |
Camarilla | 2,179.41 | 2,197.50 | 2,215.59 | 2,233.68 | 2,251.77 | 2,269.86 | 2,287.95 |
Woodie | 1,937.66 | 1,988.36 | 2,135.01 | 2,185.71 | 2,332.36 | 2,383.06 | 2,529.71 |
Fibonacci | 1,972.37 | 2,047.76 | 2,094.34 | 2,169.72 | 2,245.11 | 2,291.69 | 2,367.07 |
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): | 74.19 | |
MACD (12,26,9): | 65.0400 | |
Directional Movement: | 28.26 | |
AROON (14): | 85.71 | |
DEMA (21): | 2,370.07 | |
Parabolic SAR (0,02-0,02-0,2): | 2,431.55 | |
Elder Ray (13): | 59.61 | |
Super Trend (3,10): | 2,250.30 | |
Zig ZAG (10): | 2,382.45 | |
VORTEX (21): | 1.2300 | |
Stochastique (14,3,5): | 76.55 | |
TEMA (21): | 2,393.45 | |
Williams %R (14): | -19.02 | |
Chande Momentum Oscillator (20): | 148.77 | |
Repulse (5,40,3): | 1.1400 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.4000 | |
Courbe Coppock: | 15.53 |
MA7: | 2,359.30 | |
MA20: | 2,272.02 | |
MA50: | 2,153.42 | |
MA100: | 2,093.76 | |
MAexp7: | 2,354.39 | |
MAexp20: | 2,286.51 | |
MAexp50: | 2,192.20 | |
MAexp100: | 2,118.82 | |
Price / MA7: | +1.02% | |
Price / MA20: | +4.90% | |
Price / MA50: | +10.68% | |
Price / MA100: | +13.83% | |
Price / MAexp7: | +1.23% | |
Price / MAexp20: | +4.23% | |
Price / MAexp50: | +8.72% | |
Price / MAexp100: | +12.48% |
Quotes :
-
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 Daily Forecast and Technical Analysis for April 16, by Chris Lewis, #XAUUSD, #FXEmpire #gold
- Gold Daily Forecast and Technical Analysis for April 16, 2024, by Chris Lewis for FX Empire
- Risk Sentiment Improves Despite Major Geopolitical Uncertainty: Gold, USD, SPX
- Gold Forecast April 16, 2024
- Gold Daily Forecast and Technical Analysis for April 15, by Chris Lewis, #XAUUSD, #FXEmpire #gold
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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