XAUUSD Pivot 10th May 2021
This page will assist readers on daily XAUUSD forecast on the pivot point for Gold, and how price may move for the day.
The 4 hour time frame will be in focus for today’s pivot analysis for XAUUSD.
XAUUSD 4HR TF:
Gold price closed on the 7th May, 2021 at 1830.78. Open price for 10th May 2021 is 1832.97.
Higher Daily price open may sometimes imply that price may close Bearish at the end of the day.
Pivot for the day is 1828.93 and this is quite lower to the market open price, 1832.87.
The 4hr chart is currently showing that market price is currently moving in a Bullish structure.
Price might retrace for sometime before continuing its upward movement.
The 4hr chart is currently showing that market price is currently moving in a Bullish structure.
We now have the formation of Higher Higher point on the chart.
Price may breakout higher towards Resistance 1 (1845 area) before jumping further to 1859 (Resistance 2).
Support 1, which is at the 1814 area is currently being eyed by the Bears.
A break below that level will definitely take price to Support 2 (1798 area)
Overall bias on the 4 hour chart is now Bullish. (Buyers may buy every dip).
Resistance 3
1875.53
Resistance 2
1859.38
Resistance 1
1845.08
Pivot Point
1828.93
Support 1
1814.63
Support 2
1798.48
Support 3
1784.18
DAILY TIME FRAME:
Using Weekly pivot levels on the Daily time frame, the most relevant levels are as follows;
Resistance 1
1860.68
Pivot Point
1813.32
Support 1
1783.423
Remember that price closed for the week above the weekly pivot (1813.32), which is currently below price.
Weekly Resistance is at 1860.68
While weekly Support is at 1783.42.
Price is currently below the weekly Resistance.
There is a higher chance that price may test the Resistance level (1860) on the Weekly time frame.
Fundamentals (News):
The following data/news release will happen today.
No news data for 10th May 2021
Check Out XAUUSD Pivot For 7th May 2021:
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