Daily Forex Pivot Point 7.0
This page will show readers Pivot point levels for Gold and Forex pairs, and how prices may move for the day.
The 4 hour time frame will be our focus for today’s pivot point analysis.
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XAUUSD Pivot 15th February, 2025 (15:02 GMT):
Gold/XAUUSD 4HR TF:
XAUUSD price analysis:
Current price: 2882.82
Previous Day Pivot line: 2899.86
Day Open Price: ??
The overall bias on the 4 hour chart is currently showing that market price is Neutral.
Find below computation results for XAUUSD Four Hour Pivot Point, Support and Resistance levels for 17th February, 2025.
RESISTANCE 3
2986.00
RESISTANCE 2
2962.97
RESISTANCE 1
2922.89
PIVOT
2899.86
SUPPORT 1
2859.78
SUPPORT 2
2836.75
SUPPORT 3
2796.67
The first resistance (R1) at 2922 serves as a primary target (Take Profit 1), while the second resistance (R2) at 2962 represents a higher target (Take Profit 2) on the Bull side.
With the first support at 2859 acting as a Stop Loss level, bullish traders should aim for the first resistance as the price is expected to move higher in line with overall bullish trend.
The nearest daily high of 2939.93 shows prior resistance, while the nearest daily low is 2876.82, a critical support that sellers may need to break on the daily time frame.
- FOUR HOUR TIME FRAME ASCENDING/DESCENDING STATUS: Ascending trend line has been broken on the 4hr time frame.
- CANDLESTICK PATTERN AT THE START OF CURRENT 4HR TREND: Bearish Engulfing candlestick pattern sighted at the top (possible start of downtrend)
- CANDLE LAP ON DAILY PIVOT LINE: 4 hour Bearish Candlestick is lapping on Daily Pivot line
- PREVIOUS DAY’S HIGH/LOW PRICE IN COMPARISON WITH HIGH/LOW PRICE OF COUPLE OF DAYS BACK: High (2929.39) to Higher High (2939.93) and Low (2900.32) to Lower Low (2876.82). Possible further bearish drop.
- MARKET STRUCTURE DIRECTION ON 4 HOUR TIME FRAME: RANGE, NEUTRAL – LOWER HIGH, HIGHER LOW formation spotted.
TRADE FORCAST SUMMARY: Look for Buy opportunities at first, and apply caution as you buy. XAUUSD price may fall subsequently due to the formation of Bearish Engulfing pattern on the Daily time frame.
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