XAUUSD Pivot 20th April 2021
This page will give followers daily insight on where the Pivot point for XAUUSD (Gold) is located and how price may react to it.
The 4 hour time frame will be in focus for this pivot analysis for XAUUSD.
XAUUSD 4HR TF:
Gold price closed on the 19th April 2021 at 1770.73, and opened today 20th April 2021 at 1770.85.
Higher price open may sometimes imply that price will be Bearish at the end of the day.
Pivot for the day is 1775.80 and this is clearly higher than the open price (1770.73).
The 4hr chart is now showing that market price is in a Bullish structure, although, a top is currently visible above the Pivot on the chart.
Higher High and Higher Low price is now visible on the the 4 hour chart, currently forming the latest Higher High at the 1790 area.
Technically, price is approaching Support 1 (1761.63) as shown on the image below.
The implication of this is, price may slide towards that level and find support, or give way for further slide to Support 2 (1752.53) .
Support 3, which is at the 1738.36 area is currently being eyed by Sellers.
Overall bias on the 4 hour chart is strongly Bullish.
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