Energies
Gold prices showed weakness after the precious metal reached an all-time high last week. This weeks movement showed fluctuations with more bearish bias. On the daily chart, the candlesticks broke below the short term moving averages MA(5) and MA(10).
Currently, gold is facing the mid-term moving average MA(30) which will present some support as seen from previous encounters.
The RSI cooled down and is moving now near the 50 level, which indicates easing in the uptrend. Failure to close below the dynamic support of MA(30) will likely lead to rise in gold prices from $3,200 levels to $3,300 levels.
A close below the $3,200 support line on the daily chart is likely to lead to more declines towards $3,175 levels.
Gold (XAUUSD) Daily Chart
| Resistance | $3,353 | $3,387 | $3,461 |
| Support | $3,203 | $3,124 | $3,022 |
GBPUSD Daily Chart
The British Pound declined against the US dollar this week after reaching major resistance level on the daily chart at 1.3444. Short term moving averages MA(5) and MA(10) showed bearish cross over, which indicates further declines in the pair. Closure below the moving averages in the daily chart may indicate more selling pressure pushing the price to the moving average MA(30).
The next major dynamic support level is the uptrend near the 1.3100 psychological level.
| Resistance | 1.3378 | 1.3449 | 1.3564 |
| Support | 1.3235 | 1.3204 | 1.3066 |
Bitcoin (BTCUSD) Daily Chart
As the US dollar weakened, Bitcoin continued to rise in the month of April. The cryptocurrency broke above $97,000 on Friday, nearing the crucial level of $100,000. Confluence of short term moving averages MA(5) and MA(10) with the uptrend on the daily chart may provide support for cryptocurrency at the $96,000 level.
Closing above the $95,932 level on the daily chart is indicative of more increases towards the next resistance levels. The overall buas on bitcoin is still bullish as long as daily candles are closing above the uptrend.
| Resistance | $99,554 | $100,420 | $102,664 |
| Support | $93,006 | $91,614 | $89,440 |
Tags
Open Live Account
Please enter a valid country
No results found
No results found
Please enter a valid email
Please enter a valid verification code
1. 8-16 characters + numbers (0-9) 2. blend of letters (A-Z, a-z) 3. special characters (e.g, !a#S%^&)
Please enter the correct format
Please tick the checkbox to proceed
Please tick the checkbox to proceed
Important Notice
STARTRADER does not accept any applications from Australian residents.
To comply with regulatory requirements, clicking the button will redirect you to the STARTRADER website operated by STARTRADER PRIME GLOBAL PTY LTD (ABN 65 156 005 668), an authorized Australian Financial Services Licence holder (AFSL no. 421210) regulated by the Australian Securities and Investments Commission.
CONTINUEImportant Notice for Residents of the United Arab Emirates
In alignment with local regulatory requirements, individuals residing in the United Arab Emirates are requested to proceed via our dedicated regional platform at startrader.ae, which is operated by STARTRADER Global Financial Consultation & Financial Analysis L.L.C.. This entity is licensed by the UAE Securities and Commodities Authority (SCA) under License No. 20200000241, and is authorised to introduce financial services and promote financial products in the UAE.
Please click the "Continue" button below to be redirected.
CONTINUEError! Please try again.
