XAUUSD Pivot 25th May 2021
This page will show readers 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 24th May, 2021 at 1881.28.
Opening price for today is 1880.71.
Technically, Lower Daily price open may imply that price may close Bullish at the end of the day.
Pivot for the day is 1881.11 and this is above market open price.
The 4hr chart is currently showing that market price is currently Ranging upwards.
However, on the 4hr chart, we have the formation of Range Top, 1890 and Range Bottom, 1852.
You may expect Range breakout soon. Upside is favored for now.
Price may breakout higher towards Resistance 2 (1892 area) before jumping further to 1898 (Resistance 3).
On the other hand, Support 1, which is at the 1875 area is currently being eyed by the Bears.
A break and close below that level may definitely take price to Support 2 (1869 area)
Overall bias on the 4 hour chart shows a Ranging market that may breakout upward soon.
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 well above the weekly pivot (1871.71). Weekly pivot is currently below Daily Pivot (1881.11).
Weekly Resistance is at 1899
While weekly Support is at 1853.
Price is currently above the Weekly Pivot point.
There is a chance that price may test the Resistance level (1899) on the Weekly time frame during the week.
The following data/news release will happen on Monday.
Medium Impact is German Gross Domestic Product data.
This data will drop in the London session at 06:00 GMT.
Another Medium Impact news is German IFO – Business Climate.
This data will drop coming up in the London session at 08:00 GMT.
Check Out XAUUSD Pivot For 24th May 2021:
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