XAUUSD Pivot 23rd April 2021
This page will give followers daily insight as regards where the Pivot point for XAUUSD (Gold) is, and how price may move around it.
The 4 hour time frame will be in focus for today’s pivot analysis for XAUUSD.
XAUUSD 4HR TF:
Gold price closed on the 22nd April, 2021 at 1784.31, and opened today 23rd April, 2021 at 1784.11.
Lower Daily price open may sometimes imply that price will be Bullish at the end of the day.
Pivot for the day is 1786.51 and this is clearly higher than the open price (1784.11).
The 4hr chart is presently showing that market price is in a Bullish structure.
Currently, on the 4hr chart, we have the formation of Higher Low at 1777 area.
Higher High and Higher Low price is currently visible on the the 4 hour chart, currently forming the latest Higher High at the 1797 area.
Our Higher Lows are at the 1763 and 1777 areas. Price is now going up to possibly form a Higher High.
Technically, price is approaching Resistance 1 (1795.62) as you can see on the image below.
The implication of this is, price may jump towards that level and find resistance, or give way for further jump to Resistance 2 (1806.94) .
Support 1, which is at the 1775.19 area is currently being eyed by Sellers.
Overall bias on the 4 hour chart is Bullish.
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