XAUUSD Pivot 19th April 2021
This page will give readers daily insight on where the Pivot point for XAUUSD (Gold) is located and how price may react to it.
However, the 4 hour time frame will be in focus for this pivot analysis.
XAUUSD 4HR TF:
Gold price closed on the 16th April 2021 at 1776.47, and opened today 19th April 2021 at 1775.49.
Lower price open may sometimes imply that price will be Bullish at the end of the day.
Pivot for the day is 1761.18 and this is clearly higher than the open price (1775.49).
4hr chart is currently showing that market price is in a Bullish structure.
Higher High and Higher Low price is now visible on the the 4 hour chart.
Technically, price is approaching Resistance 1 as shown on the image below.
The implication of this is, price will continue to go up after some minor retracement.
Resistance 3, which is at the 1858 area is currently being eyed by Buyers.
However, this is expected to be a long trade, risk and money management should be adequately applied..
Overall bias on the 4 hour chart is strongly Bullish.
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