Gold Price floats firmly beyond the $1,930-32 support confluence comprising the Pivot Point one-day S2, 50-day SMA and 200-SMA on four-hour (4H).
That said, a convergence of the Pivot Point one-day S1, Fibonacci 61.8% on one-month and the lower band of the Bollinger on the 4H restricts the immediate downside of the Gold Price near $1,935.
In a case where the Gold Price remains bearish past $1,930, the 200-day SMA, the middle band of the Bollinger and Fibonacci 38.2% on one-month, close to $1,915 by the press time, will act as the last defense of the XAU/USD buyers.
Alternatively, a convergence of the Fibonacci 38.2% on one-day and the middle band of the Bollinger on 4H, close to $1,945, guards immediate recovery of the Gold Price.
Following that, the Pivot Point one-day R3, 100-day SMA and Fibonacci 161.8% on one-day, will act as a tough nut to crack for the Gold buyers around $1,955.
It’s worth noting that the Gold Price run-up beyond $1,955 will enable buyers to aim for an area comprising multiple hurdles marked during May and July, around $1,985.
PLAN 1: BUY XAUUSD 1928 - 1930
Stop Loss : 1924
Take Profit 1 : 1935
Take Profit 2 : 1940
Take Profit 3 : 1945
PLAN 2: SELL XAUUSD 1909 - 1912
Stop Loss : 1905
Take Profit 1 : 1920
Take Profit 2 : 1925
Take Profit 3 : 1930
That said, a convergence of the Pivot Point one-day S1, Fibonacci 61.8% on one-month and the lower band of the Bollinger on the 4H restricts the immediate downside of the Gold Price near $1,935.
In a case where the Gold Price remains bearish past $1,930, the 200-day SMA, the middle band of the Bollinger and Fibonacci 38.2% on one-month, close to $1,915 by the press time, will act as the last defense of the XAU/USD buyers.
Alternatively, a convergence of the Fibonacci 38.2% on one-day and the middle band of the Bollinger on 4H, close to $1,945, guards immediate recovery of the Gold Price.
Following that, the Pivot Point one-day R3, 100-day SMA and Fibonacci 161.8% on one-day, will act as a tough nut to crack for the Gold buyers around $1,955.
It’s worth noting that the Gold Price run-up beyond $1,955 will enable buyers to aim for an area comprising multiple hurdles marked during May and July, around $1,985.
PLAN 1: BUY XAUUSD 1928 - 1930
Stop Loss : 1924
Take Profit 1 : 1935
Take Profit 2 : 1940
Take Profit 3 : 1945
PLAN 2: SELL XAUUSD 1909 - 1912
Stop Loss : 1905
Take Profit 1 : 1920
Take Profit 2 : 1925
Take Profit 3 : 1930
