GOLD - USD - Daily - Technical analysis published on 08/05/2024 (GMT)
- 102
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
11%
39%
My opinion
Bullish above 2,348.31 USD
My targets
2,468.36 USD (+1.89%)
My analysis
GOLD - USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 2,348.31 USD. The next resistance located at 2,468.36 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.3
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by jann1414. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GOLD - USD rating 2,422.63 USD. On the day, this instrument lost -0.75% with the lowest point at 2,413.92 USD and the highest point at 2,441.11 USD. The deviation from the price is +0.36% for the low point and -0.76% for the high point.2,413.92
2,441.11
2,422.63
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by GOLD - USD:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of GOLD - USD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, only 9 technical indicators out of 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Pivot points : price is under support 2
Type : Neutral
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
Price
S3 | S2 | S1 | Price | R1 | R2 | |
---|---|---|---|---|---|---|
ProTrendLines | 1,991.54 | 2,049.28 | 2,294.05 | 2,422.63 | 2,426.21 | 2,468.36 |
Change (%) | -17.79% | -15.41% | -5.31% | - | +0.15% | +1.89% |
Change | -431.09 | -373.35 | -128.58 | - | +3.58 | +45.73 |
Level | Minor | Major | Intermediate | - | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,427.00 | 2,432.41 | 2,436.71 | 2,442.12 | 2,446.42 | 2,451.83 | 2,456.13 |
Camarilla | 2,438.34 | 2,439.23 | 2,440.12 | 2,441.01 | 2,441.90 | 2,442.79 | 2,443.68 |
Woodie | 2,426.45 | 2,432.13 | 2,436.16 | 2,441.84 | 2,445.87 | 2,451.55 | 2,455.58 |
Fibonacci | 2,432.41 | 2,436.12 | 2,438.41 | 2,442.12 | 2,445.83 | 2,448.12 | 2,451.83 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,274.63 | 2,322.18 | 2,382.61 | 2,430.16 | 2,490.59 | 2,538.14 | 2,598.57 |
Camarilla | 2,413.35 | 2,423.24 | 2,433.14 | 2,443.04 | 2,452.94 | 2,462.84 | 2,472.74 |
Woodie | 2,281.07 | 2,325.40 | 2,389.05 | 2,433.38 | 2,497.03 | 2,541.36 | 2,605.01 |
Fibonacci | 2,322.18 | 2,363.43 | 2,388.91 | 2,430.16 | 2,471.41 | 2,496.89 | 2,538.14 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,183.11 | 2,250.83 | 2,348.31 | 2,416.03 | 2,513.51 | 2,581.23 | 2,678.71 |
Camarilla | 2,400.37 | 2,415.51 | 2,430.66 | 2,445.80 | 2,460.94 | 2,476.09 | 2,491.23 |
Woodie | 2,198.00 | 2,258.27 | 2,363.20 | 2,423.47 | 2,528.40 | 2,588.67 | 2,693.60 |
Fibonacci | 2,250.83 | 2,313.93 | 2,352.92 | 2,416.03 | 2,479.13 | 2,518.12 | 2,581.23 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 58.74 | |
MACD (12,26,9): | 18.7400 | |
Directional Movement: | 8.69 | |
AROON (14): | -42.86 | |
DEMA (21): | 2,435.34 | |
Parabolic SAR (0,02-0,02-0,2): | 2,358.07 | |
Elder Ray (13): | 17.44 | |
Super Trend (3,10): | 2,478.55 | |
Zig ZAG (10): | 2,433.91 | |
VORTEX (21): | 1.1100 | |
Stochastique (14,3,5): | 66.70 | |
TEMA (21): | 2,439.09 | |
Williams %R (14): | -37.67 | |
Chande Momentum Oscillator (20): | 29.34 | |
Repulse (5,40,3): | -0.1400 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1100 | |
Courbe Coppock: | 0.48 |
MA7: | 2,428.71 | |
MA20: | 2,417.87 | |
MA50: | 2,368.32 | |
MA100: | 2,343.36 | |
MAexp7: | 2,429.36 | |
MAexp20: | 2,411.18 | |
MAexp50: | 2,378.21 | |
MAexp100: | 2,320.84 | |
Price / MA7: | -0.25% | |
Price / MA20: | +0.20% | |
Price / MA50: | +2.29% | |
Price / MA100: | +3.38% | |
Price / MAexp7: | -0.28% | |
Price / MAexp20: | +0.47% | |
Price / MAexp50: | +1.87% | |
Price / MAexp100: | +4.39% |
Quotes :
-
Real time data
-
Gold & Silver Spot
News
The latest news and videos published on GOLD - USD at the time of the analysis were as follows:
- Paris Olympics: Winning Dominica’s first gold medal 'feels surreal'
- Djokovic wins his first Olympic gold medal after beating Alcaraz in men's tennis final
- Snoop Dogg holds a gold medal for the first time
- Gold Long Term Forecast and Technical Analysis for August 02, 2024, by Chris Lewis for FX Empire
- Gold Reacts to Jobs Data: Technical Analysis for August 02, 2024, by Chris Lewis for FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis GOLD - USD - Daily