Technical Analysis (Gold) : XAU/USD 16 March 2023

Forex Technical Analysis : XAUUSD (Gold)

Date : 16 March 2023

Pivot point : 1905.00

Our preference : long positions above 1905.00 with targets at 1924.00 & 1937.00 in extension.

Alternative scenario : below 1905.00 look for further downside with 1896.00 & 1886.00 as targets.

Comment : even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances :

1945.00 **
1937.00 *
1924.00
1912.59 – Last price
1905.00
1896.00 *
1886.00 **

Warning : This information isn’t a buy-sell signal.

Source : Trading Central

If you open a live account with a broker that support Trading Central, you’ll get all technical analysis.