XAUUSD Pivot 26th 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 25th May, 2021 at 1899.11.
Opening price for today is 1898.70.
Technically, Lower Daily price open may imply that price may close Bullish at the end of the day.
Pivot for the day is 1890.63 and this is below market open price.
Price might retrace for sometime before continuing its upward movement.
The 4hr chart is currently showing that market price is currently moving in a Bullish structure.
Bulls are actually waiting for fresh impetus that will cause them to take price much higher.
However, on the 4hr chart, we have the formation of Higher Higher, 1900 level.
Price may breakout higher towards Resistance 1 (1908 area) before jumping further to 1918 (Resistance 2).
Support 1, which is at the 1881 area is currently being eyed by the Bears.
A break below that level will definitely take price to Support 2 (1863 area)
Overall bias on the 4 hour chart is now Bullish. (Buyers may buy every dip).
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 (1890.63).
Weekly Resistance is at 1899
While weekly Support is at 1853.
Price is currently at the Weekly Resistance.
There is a chance of Higher rise in price of XAUUSD before the week runs out.
The following data/news release will happen today.
Medium Impact news is Swiss ZEW Survey – Expectations data.
This data will drop in the London session at 08:00 GMT
Check Out XAUUSD Pivot For 25th May 2021:
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