XAUUSD on the $ 1,900 route - W1

Monday, May 18, 2020 5:12 PM

In the weekly XAUUSD chart, we see the price reaching the 2011 price ceiling of $ 1,780 and the September 11 crisis and the attack on the Twin Towers in the United States. Accordingly, we expect the price to fall sharply in the face of this resistance zone and to fall to the price of $ 1560 that we have the support line. Reaching $ 1560 per ounce, the next target for gold will be $ 1,900 per ounce.

The most important support and resistance lines for XAUUSD :

S3 : 1645.15

S2 : 1668.32

S1 : 1705.66

Pivot Points : 1728.97

R1 : 1766.24

R2 : 1789.45

R3 : 1826.70