Gold XAUUSD analysis from April 20 to April 24, 2020 - Kienthucforex.com


A look at the weekly candle shows that gold has risen to hit the correct resistance area according to the Pivot 1742 turning point and ends the weekly candle with 1 Doji candle reverses.



Gold frame W1, Chart xStation5 do XTB provided


Meanwhile, in the D1 RSI frame, there are signs of divergence, indicating that the buyers may no longer be interested in pushing prices higher.



Gold frame D1, Chart xStation5 do XTB provided


Looking at the H1 frame, as you can see, gold has formed a 2-peak pattern and broke the neckline.



Gold frame W1, Chart xStation5 do XTB provided



Gold frame H1, Chart xStation5 do XTB provided


In addition, also at the yellow H1 frame broke trendline Increase as shown below:


So, if Gold goes up to retest this neckline and there are reversal candles, combined with the W-frame candle is a doji, a bearish signal, combined with the divergence at D1, shows the week. This we can watch to Sell.



Gold frame H1, Chart xStation5 do XTB provided


So this week can:


Soup Sell Gold at 1709 -1711


Cut loss at: 1717-1718


Profit taking is up to you, the expected price could be 1680


You should note that the main trend of gold is still the uptrend, so this week's scenario as analyzed above actually took place only showing that the gold is pulling back, there is no sign that gold will really deep reduction.


This is just an analysis of the kienthucforex team, you can see this as a reference, not an investment advice. Please preserve capital thoroughly to avoid the risk of happening. Good luck!





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Author: Tin Nguyen


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