XAUUSD Pivot 27th 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 26th May, 2021 at 1896.43.
Opening price for today is 1896.38.
Technically, Lower Daily price open may imply that price may close Bullish at the end of the day.
Pivot for the day is 1899.93 and this is above market open price.
Price might range for sometime around this level.
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, 1912 level.
Price may breakout higher towards Resistance 1 (1909 area) before jumping further to 1921 (Resistance 2).
Support 1, which is at the 1887 area is currently being eyed by the Bears.
A break below that level will definitely take price to Support 2 (1877 area)
Overall bias on the 4 hour chart is 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 (1899.93).
Weekly Resistance is at 1899
While weekly Support is at 1853.
Price is currently forming a Bearish Pin Bar around the Weekly Resistance.
There is a chance of retracement in price of XAUUSD towards the weekly pivot point 1871.71, before the week runs out.
Check Out XAUUSD Pivot For 26th May 2021:
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