XAUUSD Pivot 17th 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 14th May, 2021 at 1826.86.

We will check open price on Sunday night when market opens.

Higher Daily price open sometimes imply that price may close Bearish at the end of the day.

On the other hand, Lower Daily price open may imply that price will close Bullish at the end of the day.

Pivot for the day is 1836 and this will be checked in line with the market open price.

The 4hr chart is currently showing that market price is currently Ranging.

Price might slide towards 1836 level any moment from now.

We now have the formation of Higher Low point (1808 area) on the chart.

At the moment, price is currently hovering around the Range Top (1845 zone).

A complete break and close above this level will take price to Resistance 1 (1852 level).

A break and close of price below Support 1 (1826 zone) will take price to Support 2 (1809 zone).

Moreover, Bears are currently eyeing the Pivot point level (1836 zone).

A break above Resistance 1 (1852 area), will take price further to 1862 (Resistance 2).

Overall bias on the 4 hour chart remains a Range.

However, possible Breakout Higher may not be ruled out.

Resistance 3

1878.49

Resistance 2

1862.17

Resistance 1

1852.33

Pivot Point

1836.01

Support 1

1826.17

Support 2

1809.85

Support 3

1800.01

 

XAUUSD 4HR TF 15th May 2021 PIVOT

DAILY TIME FRAME:

Using Weekly pivot levels on the Daily time frame, the most relevant levels are as follows;

Resistance 1

1856

Pivot Point

1832.35

Support 1

1818.84

XAUUSD DAILY 15th May 2021 PIVOT

Remember that price closed for the week well above the weekly pivot (1832.35). Weekly pivot is currently below Daily Pivot (1836).

Weekly Resistance is at 1856

While weekly Support is at 1818.64.

Price is currently above the Weekly Pivot point.

There is a chance that price may test the Resistance level (1856) on the Weekly time frame during the week.

 

Fundamentals (News):

The following data/news release will happen today.

Medium Impact news for Monday is U.S Fed’s Clarida speech. This data will drop in the Newyork session at 14:05 GMT.

Another Medium Impact news for Monday is BoE’s Tenreyro speech. This data will drop in the Newyork session at 14:15 GMT.

 

 

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Support and Resistance

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