XAUUSD Pivot 14th May 2021
This page will show followers daily XAUUSD forecast on the pivot point for Gold, and how price may move for the day.
The 4 hour time frame will be our focus for today’s pivot analysis for XAUUSD.
XAUUSD 4HR TF:
Gold price closed on the 13th May, 2021 at 1826.86. Open price for 13th May 2021 is 1827.05.
Higher Daily price open may sometimes imply that price may close Bearish at the end of the day.
Pivot for the day is 1821.43 and this is well below the market open price, 1827.80.
The 4hr chart is currently showing that market price is currently Ranging.
Price might slide towards 1821 level any moment from now.
We now have the formation of Higher Low point (area 1808 area) on the chart.
At the moment, price is currently jumping towards Resistance 1 (1834 level).
A break below Support 1 will take price to Support 2 (1801 zone).
On the flip side, Bears are currently eyeing the Pivot point level (1821 zone).
A break above the Pivot point will take price to Resistance 1 (1835 area), before jumping further to 1841 (Resistance 2).
Overall bias on the 4 hour chart remains a Range.
DAILY TIME FRAME:
Using Weekly pivot levels on the Daily time frame, the most relevant levels are as follows;
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 above the Weekly Pivot point.
There is a chance that price may test the Resistance level (1860.68) on the Weekly time frame.
The following data/news release will happen today.
Medium Impact news for today is ECB Monetary Policy Meeting Accounts data. This data will drop in the London session at 11:30 GMT.
High Impact news for today is U. S Retail Sales data. This data will drop in the Newyork session at 12:30 GMT.
Check Out XAUUSD Pivot For 13th May 2021:
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