GOLD - USD - 1H - Technical analysis published on 04/22/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 2,373.07 USD
My targets
2,354.74 USD (-0.44%)
2,324.92 USD (-1.70%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GOLD - USD as long as the price remains well below 2,373.07 USD. The sellers' bearish objective is set at 2,354.74 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 2,324.92 USD. In case of crossing, the next objective would be the support located at 2,203.99 USD.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
5.4
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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 rating is 2,365.23 USD. The price registered a decrease of -1.04% on the session and was traded between 2,362.12 USD and 2,391.90 USD over the period. The price is currently at +0.13% from its lowest and -1.12% from its highest.2,362.12
2,391.90
2,365.23
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
Here is a more detailed summary of the historical variations registered by GOLD - USD:
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 1H of this GOLD - USD chart shows a bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are bearish. There is still some doubt about the decline in the price.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 2,203.99 | 2,324.92 | 2,354.74 | 2,365.23 | 2,373.07 | 2,389.75 | 2,398.33 |
Change (%) | -6.82% | -1.70% | -0.44% | - | +0.33% | +1.04% | +1.40% |
Change | -161.24 | -40.31 | -10.49 | - | +7.84 | +24.52 | +33.10 |
Level | Intermediate | Intermediate | Minor | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,324.29 | 2,348.57 | 2,369.35 | 2,393.63 | 2,414.41 | 2,438.69 | 2,459.47 |
Camarilla | 2,377.74 | 2,381.87 | 2,386.00 | 2,390.13 | 2,394.26 | 2,398.39 | 2,402.52 |
Woodie | 2,322.54 | 2,347.70 | 2,367.60 | 2,392.76 | 2,412.66 | 2,437.82 | 2,457.72 |
Fibonacci | 2,348.57 | 2,365.78 | 2,376.42 | 2,393.63 | 2,410.84 | 2,421.48 | 2,438.69 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,245.34 | 2,285.41 | 2,337.77 | 2,377.84 | 2,430.20 | 2,470.27 | 2,522.63 |
Camarilla | 2,364.71 | 2,373.19 | 2,381.66 | 2,390.13 | 2,398.60 | 2,407.08 | 2,415.55 |
Woodie | 2,251.49 | 2,288.48 | 2,343.92 | 2,380.91 | 2,436.35 | 2,473.34 | 2,528.78 |
Fibonacci | 2,285.41 | 2,320.72 | 2,342.53 | 2,377.84 | 2,413.15 | 2,434.96 | 2,470.27 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
RSI (14): | 36.55 | |
MACD (12,26,9): | -2.2800 | |
Directional Movement: | -14.36 | |
AROON (14): | -64.29 | |
DEMA (21): | 2,381.51 | |
Parabolic SAR (0,02-0,02-0,2): | 2,395.51 | |
Elder Ray (13): | -14.31 | |
Super Trend (3,10): | 2,392.73 | |
Zig ZAG (10): | 2,367.30 | |
VORTEX (21): | 0.9000 | |
Stochastique (14,3,5): | 10.16 | |
TEMA (21): | 2,378.18 | |
Williams %R (14): | -87.99 | |
Chande Momentum Oscillator (20): | -24.13 | |
Repulse (5,40,3): | -0.6200 | |
ROCnROLL: | 2 | |
TRIX (15,9): | 0.0000 | |
Courbe Coppock: | 0.36 |
MA7: | 2,373.10 | |
MA20: | 2,311.79 | |
MA50: | 2,180.86 | |
MA100: | 2,107.74 | |
MAexp7: | 2,377.60 | |
MAexp20: | 2,383.18 | |
MAexp50: | 2,383.03 | |
MAexp100: | 2,379.39 | |
Price / MA7: | -0.33% | |
Price / MA20: | +2.31% | |
Price / MA50: | +8.45% | |
Price / MA100: | +12.22% | |
Price / MAexp7: | -0.52% | |
Price / MAexp20: | -0.75% | |
Price / MAexp50: | -0.75% | |
Price / MAexp100: | -0.59% |
Quotes :
-
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 Long Term Forecast for April 21, by Chris Lewis, for #fxempire #trading #gold #xauusd
- Team USA is preparing for the Paris Olympics and eyeing gold! | Nightly News: Kids Edition
- Gold Daily Forecast and Technical Analysis for April 19, 2024 by Bruce Powers, CMT, FX Empire
- Gold Forecast April 22, 2024
- Gold Long Term Forecast and Technical Analysis for April 19, 2024, by Chris Lewis for FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
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