Gold Price Analysis: XAU/USD trading in 10-day highs near $1580.00/oz


  • XAU/USD is gaining steam as the week is coming to an end. 
  • Bulls are eying the 1590.05 and 1595.00 levels on the way up.
 

Gold daily chart

 
XAU/USD is trading in a bull trend above the main daily simple moving averages (SMAs). Gold is rising in a bull channel while the market is being supported above the 1560.00 figure.
 

Gold four-hour chart

 
XAU/USD broke above the1576.75 support while trading above the main SMAs on the four-hour chart suggesting a bullish momentum in the medium term. As bulls are back in control the market has room to appreciate towards the 1590.05 and 1595.00 price levels. Conversely, corrections down could find support near the 1576.88, 1571.94 and 1565.36 levels, according to the Technical Confluences Indicator.   
 
 
 
Resistance: 1586.75, 1590.05, 1595.00
Support: 1576.88, 1571.94, 1565.36
 
 

Additional key levels

XAU/USD

Overview
Today last price 1581.08
Today Daily Change 4.77
Today Daily Change % 0.30
Today daily open 1576.31
 
Trends
Daily SMA20 1568.68
Daily SMA50 1534.24
Daily SMA100 1508.35
Daily SMA200 1464.9
 
Levels
Previous Daily High 1578.34
Previous Daily Low 1565.54
Previous Weekly High 1594.01
Previous Weekly Low 1547.56
Previous Monthly High 1611.53
Previous Monthly Low 1517.1
Daily Fibonacci 38.2% 1573.45
Daily Fibonacci 61.8% 1570.43
Daily Pivot Point S1 1568.45
Daily Pivot Point S2 1560.6
Daily Pivot Point S3 1555.65
Daily Pivot Point R1 1581.25
Daily Pivot Point R2 1586.2
Daily Pivot Point R3 1594.05

 

 

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