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2024/05/20 forex gold crude oil market analysis

JRFX Forex player

Active member
Gold:
- Turning point: 2412
- May rise to 2440.00 - 2460.00 during the day
- Above 2412.00, bullish, target 2440.00, then 2460.00.
- Under 2412.00, short, target price is set at 2395.00, then 2385.00.
- Subsequent resistance levels are 2440.00 and then 2460.00.

EUR/USD:
- Turning point: 1.0850
- May rise 16-36 points during the day
- Above 1.0850, bullish, target 1.0890, then 1.0910.
- Under 1.0850, short, target price is set at 1.0835, then 1.0820.
- The RSI technical indicator is bullish, with room for further upside.

GBP/USD:
- Turning point: 1.2675
- May rise 16-36 points during the day
- Above 1.2675, bullish, target 1.2720, then 1.2740.
- Under 1.2675, short, target price is set at 1.2655, then 1.2640.
- The RSI technical indicator continues its upward trend.

USD/JPY:
- Turning point: 155.50
- May rise 30-65 points during the day
- Above 155.50, bullish, target 156.20, then 156.55.
- Under 155.50, bearish with target price at 155.25, then 155.00.
- The RSI technical indicator is moving upward.

USD/CHF:
- Turning point: 0.9065
- May rise 22-42 points during the day
- Above 0.9065, bullish, target 0.9115, then 0.9135.
- Under 0.9065, bearish with target at 0.9050, then 0.9030.
- The RSI technical indicator is bullish.

Crude Oil (WTI) Futures:
- Turning point: 79.00
- May rise to 79.95 - 80.30 during the day
- Above 79.00, bullish, target 79.95, then 80.30.
- Under 79.00, bearish, target price is set at 78.55, then 78.25.
- Subsequent resistance is 79.95 and then 80.30.

The above is a brief analysis of today's foreign exchange, gold and crude oil prices. Please pay attention to market fluctuations and make trading decisions carefully.


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Probably, the trend of gold will be upward until the end of 2024 and it is attractive for investors considering the geopolitical conditions.
But gold scalpers can make great profit from TW Volume Signal pro in any situation.
 
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