Wednesday 24th February 2021: Technical Outlook and Review
On the H4 timeframe, prices are facing bullish pressure from our support at 1.21362, in line with our graphical overlap support area and 23.6% fibonacci retracement.
Tuesday 23rd February 2021: Technical Outlook and Review
On the weekly timeframe, gold is still holding above long term moving average support and tested 1764 support, above which there could be a possibility of a bounce reaction.
Monday 22nd February 2021: Technical Outlook and Review
Looking at the weekly chart, we can see that prices are testing the support area of our ascending channel at 1.200, which coincides with the 50% Fibonacci retracement and 78.6% Fibonacci extension.
Friday 19th February 2021: Technical Outlook and Review
Looking at the weekly chart, we can see that prices are testing the support area of our ascending channel at 1.200, which coincides with the 50% Fibonacci retracement and 78.6% Fibonacci extension.
Thursday 18th February 2021: Technical Outlook and Review
On the H4 timeframe, prices are facing bearish pressure from our resistance at 1.2080, in line with our graphical pullback resistance area and 38.2% fibonacci retracement.
Wednesday 17th February 2021: Technical Outlook and Review
On the H4 timeframe, prices are approaching our support area at 1.2060, which coincides with the graphical support area, 50% fibonacci retracement and 161.8% Fibonacci extension.
Tuesday 16th February 2021: Technical Outlook and Review
On the H4 timeframe, prices are facing upside pressure from our support area at 1.2080, which coincides with the graphical overlap resistance and 38.2% fibonacci retracement.
Monday 15th February 2021: Technical Outlook and Review
Looking at the weekly chart, we can see that prices are testing the support area of our ascending channel at 1.200, which coincides with the 50% Fibonacci retracement and 78.6% Fibonacci extension
Thursday 11th February 2021: Technical Outlook and Review
On the H4 timeframe, prices are facing downside pressure from our resistance level at 1.21650 which is also a graphical resistance area. This would be an interesting level for sellers and recent price action around that area suggests it is a strong area of supply flowing, where we could see a further push down to our support area at 1.20673.
