XAUUSD Pivot 16th April 2021
This page will give readers daily insight on where the Pivot point for XAUUSD (Gold) is located and how price may react to it.
However, the 4 hour time frame will be in focus for this pivot analysis.
XAUUSD 4HR TF:
Gold price closed on the 15th April 2021 at 1763.45, and opened today 16th April 2021 at 1763.92.
Higher price open may sometimes imply that price will be Bullish at the end of the day.
Pivot for the day is 1755.79 and this is clearly lower that the open price (1763.92).
4hr chart is currently showing that market price is forming a Bullish structure.
Higher High and Higher Low price is now forming on the the 4 hour chart.
Technically, a 4hour Bullish candlestick bar is lapping across the Pivot point.
The implication of this is, price will continue to go up after some minor retracement.
Resistance 3, which is at the 1812 area is currently being eyed by Buyers.
However, this is expected to be a long trade.
Overall bias on the 4hour chart is Bullish.
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