Gold Analysis

🥇 XAUUSD (GOLD) 1-hour Analysis The Technical Confluence Detector shows that the gold price is yearning for a big break below the crucial support at around $1,750. At that level, the pivot point one-day S1, SMA200 four hour and the Bollinger Band four-hour Lower converge.The further downside will open up towards the Fibonacci 161.8% one-week at $1,748. The next key support will be seen at the pivot point one-week S3 of $1,743.A sustained move below the latter is critical to initiating a fresh decline towards $1,735, the pivot point one-day S3.