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XAUUSD Gold Technical Overview H4 Chart

XAUUSD Gold Technical Overview H4 Chart

Date: 06-24-2019

Time: Pre Asia

H4 Chart Overview is updated prior to London and New York Opening.
This is just a technical summary of the said pair/instrument on the mentioned chart timeframe.
Please note that the fundamentals and Economic Calendar Data Flow may have a strong impact.

Current Value: 1398.89

Technical Indicators

RSI(14) 69.824 Bullish
STOCH(9,6) 72.904 Bullish
STOCHRSI(14) 50.408 Neutral
MACD(12,26) 15.530 Bullish
ADX(14) 54.050 Bullish
Williams %R -16.786 Overbought
CCI(14) 88.4942 Bullish
ATR(14) 12.9143 High Volatility
Highs/Lows(14) 16.0392 Bullish
Ultimate Oscillator 56.371 Bullish
ROC 4.033 Bullish
Bull/Bear Power(13) 31.4900 Bullish
Buy: 9 Sell: 0 Neutral: 1

Moving Averages:

SMA12: 1390 / Bullish

SMA 20: 1374 / Bullish

EMA 50: 1358 / Bullish

SMA 100: 1337 / Bullish

SMA 200: 1312 / Bullish

The first Moving Average Resistance:

The first Moving Average Support: 1390 SMA 12 1375 SMA50

Summary: Price is above all main Moving Averages. Strong Bullish. Potential pullbacks towards 1375 SMA 50 can be used as a buying opportunity.


Bollinger Bands Readings

Bollinger Bandwidth(20): 90.66

Bollinger Bands %b(20:2): 55.2869

Summary: Gold is trading in the upper channel of BB. Bullish. Bandwidth does not send a clear reversal/retracement signal. Next two H4 Candles may give us a better view.


Ichimoku Readings:

Senkou Span A: 1342

Senkou Span B: 1339

Tenkan-sen Kijun-sen: Bullish

Ichimoku Summary: Tenkan-sen support 1395.71. Break below may send the price 1390 and 1382.

Support / Pivot / Resistance

                        S1          S2            S3          P               R1          R2          R3

Classic      1383.09   1387.97   1393.89   1398.77   1404.69   1409.57   1415.49
Fibonacci  1387.97   1392.10   1394.64   1398.77   1402.90   1405.44   1409.57
Camarilla  1396.83   1397.82   1398.81   1398.77   1400.79   1401.78    1402.77
Woodie’s   1383.61   1388.23   1394.41   1399.03   1405.21   1409.83   1416.01


Murrey Math Calculations ( Support / Pivot / Resistance ):

Upside Levels: 1406.25 MM 6/8 Major Pivot Reverse    1421.88 MM 7/8 Weak Stall Reverse 1437.50 MM 8/8 Ultimate Resistance

Downside Levels: 1390.63 MM 5/8 Hourly Support 1375.65 MM 4/8 Major Support

Summary: Potential price movements towards 1421-1430 can be used as a selling opportunity. Potential pullbacks towards 1375 SMA 50 can be used as a buying opportunity. H4 Closing below 1375 could send the price 1359.

Divergence ( Regular / Hidden) 

RSI: None

MACD: None

OSMA:  None



CCI: Bearish Divergence / Confirmed – Signal 2 candle before – 

Candle Patterns ( Confirmed Only )

Bearish Harami

Breakout and Harmonic Patterns

Symmetrical Triangle  H1 Chart  / Emerging Not Validated Yet

Double Top  M30 Chart / Emerging Not Validated Yet

Bearish Butterfly Pattern D1 Chart / Pending   Entry Starts @ 1420

Inverse Head and Shoulders M30 / Emerging Not Validated Yet

Technical Summary H4 Chart:

Bullish Scenario: XAUUSD may retest latest high @ 1412. If it breaks above 1412, it is likely to test 1421 resistance which is the area of the entry of the Bearish Butterfly on the Daily Chart. This level can be used as a selling opportunity.

Bearish Scenario: If Gold breaks below 1394, it is likely to test 1390 and 1386. Firm closings below 1389 could send the pair 1375 which can be used as a buying opportunity.

We have different emerging patterns on smaller chart timeframes.

All potential intraday trading opportunities will be sent to members.

The technical summary will be updated prior to the London Session.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

XAUUSD Gold: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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