GOLD - USD - 1H - Technical analysis published on 02/06/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Bearish
De fond:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 1,563.37 USD
My targets
1,546.29 USD (-0.45%)
1,513.35 USD (-2.57%)
My analysis
The bearish basic trend is very strong on GOLD - USD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 1,563.37 USD. Crossing the first support at 1,546.29 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 1,513.35 USD as an objective. Crossing it would then enable sellers to target 1,454.01 USD. Caution, a return to above the resistance located at 1,563.37 USD would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
FORCE
0
10
6.6
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Additional analysis
Quotes
The GOLD - USD rating is 1,553.22 USD. The price registered a decrease of -0.19% on the session and was traded between 1,552.50 USD and 1,558.21 USD over the period. The price is currently at +0.05% from its lowest and -0.32% from its highest.1,552.50
1,558.21
1,553.22
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
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
Technical
Technical analysis of GOLD - USD in 1H shows a overall strongly bearish trend. 89.29% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 10 technical indicators on 18 studied are currently positioned bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Three black crows
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,454.01 | 1,513.35 | 1,546.29 | 1,553.22 | 1,555.44 | 1,563.37 | 1,570.93 |
| Change (%) | -6.39% | -2.57% | -0.45% | - | +0.14% | +0.65% | +1.14% |
| Change | -99.21 | -39.87 | -6.93 | - | +2.22 | +10.15 | +17.71 |
| Level | Intermediate | Intermediate | Major | - | Minor | Minor | Minor |
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 | 1,533.31 | 1,540.41 | 1,548.26 | 1,555.36 | 1,563.21 | 1,570.31 | 1,578.16 |
| Camarilla | 1,551.99 | 1,553.36 | 1,554.73 | 1,556.10 | 1,557.47 | 1,558.84 | 1,560.21 |
| Woodie | 1,533.68 | 1,540.60 | 1,548.63 | 1,555.55 | 1,563.58 | 1,570.50 | 1,578.53 |
| Fibonacci | 1,540.41 | 1,546.12 | 1,549.65 | 1,555.36 | 1,561.07 | 1,564.60 | 1,570.31 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,544.48 | 1,553.92 | 1,571.67 | 1,581.11 | 1,598.86 | 1,608.30 | 1,626.05 |
| Camarilla | 1,581.93 | 1,584.43 | 1,586.92 | 1,589.41 | 1,591.90 | 1,594.40 | 1,596.89 |
| Woodie | 1,548.63 | 1,556.00 | 1,575.82 | 1,583.19 | 1,603.01 | 1,610.38 | 1,630.20 |
| Fibonacci | 1,553.92 | 1,564.31 | 1,570.73 | 1,581.11 | 1,591.50 | 1,597.92 | 1,608.30 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,439.76 | 1,478.52 | 1,533.97 | 1,572.73 | 1,628.18 | 1,666.94 | 1,722.39 |
| Camarilla | 1,563.50 | 1,572.14 | 1,580.77 | 1,589.41 | 1,598.05 | 1,606.68 | 1,615.32 |
| Woodie | 1,448.10 | 1,482.69 | 1,542.31 | 1,576.90 | 1,636.52 | 1,671.11 | 1,730.73 |
| Fibonacci | 1,478.52 | 1,514.51 | 1,536.75 | 1,572.73 | 1,608.72 | 1,630.96 | 1,666.94 |
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): | 38.65 | |
| MACD (12,26,9): | -1.1200 | |
| Directional Movement: | -8.99 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 1,554.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,557.79 | |
| Elder Ray (13): | -2.07 | |
| Super Trend (3,10): | 1,560.52 | |
| Zig ZAG (10): | 1,552.67 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 12.10 | |
| TEMA (21): | 1,555.07 | |
| Williams %R (14): | -90.10 | |
| Chande Momentum Oscillator (20): | -4.45 | |
| Repulse (5,40,3): | -0.1000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.06 |
| MA7: | 1,569.12 | |
| MA20: | 1,563.45 | |
| MA50: | 1,524.40 | |
| MA100: | 1,505.83 | |
| MAexp7: | 1,554.59 | |
| MAexp20: | 1,555.69 | |
| MAexp50: | 1,559.44 | |
| MAexp100: | 1,564.54 | |
| Price / MA7: | -1.01% | |
| Price / MA20: | -0.65% | |
| Price / MA50: | +1.89% | |
| Price / MA100: | +3.15% | |
| Price / MAexp7: | -0.09% | |
| Price / MAexp20: | -0.16% | |
| Price / MAexp50: | -0.40% | |
| Price / MAexp100: | -0.72% |
News
The last news published on GOLD - USD at the time of the generation of this analysis was as follows:
-
Gold Forecast February 6, 2020
-
Gold Technical Analysis for February 06, 2020 by FXEmpire
-
Direxion Daily Gold Miners Index Bear 3X Shares - DUST Stock Chart Technical Analysis for 02-04-2020
-
Gold Forecast February 5, 2020
-
Gold Technical Analysis for February 05, 2020 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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