Gold Technical Analysis Aug 20, 2019
Gold Technical Analysis: The Gold declined 0.90% against the USD on Monday and closed at 1495.60. Today in the European session while Gold technical Analysis Aug 20, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1503.00, which is 0.49% higher from Yesterday’s close.
The Gold is expected to find support at 1488.00, and a fall through could take it to the next support level of 1481.00. The pair is expected to find its first resistance at 1508.00, and a rise through could take it to the next resistance level of 1520.00. For today the expected trading range is betwee 1481.00, Support and 1520.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1488.00, Support 2: 1481:00, Support 3: 1468:00
Resistance Levels: Resistance 1: 1508.00, Resistance 2: 1520.00, Resistance 3: 1528.00
Gold Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 1488.00 and 1481.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading Aug 16, 2019
Sell near the resistance area 1508.00 and 1520.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.