Gold Technical Analysis Aug 21, 2019
Gold Technical Analysis: The Gold rose 0.72% against the USD on Tuesday and closed at 1507.20. Today in the European session while Gold technical Analysis Aug 21, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1501.00, which is 0.41% lower from Yesterday’s close.
The Gold is expected to find support at 1497.00, and a fall through could take it to the next support level of 1487.00. The pair is expected to find its first resistance at 1513.00, and a rise through could take it to the next resistance level of 1518.00. For today the expected trading range is betwee 1487.00, Support and 1528.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1497.00, Support 2: 1487:00, Support 3: 1481:00
Resistance Levels: Resistance 1: 1513.00, Resistance 2: 1518.00, Resistance 3: 1528.00
Gold Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 1497.00 and 1487.00 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 1513.00 and 1518.00 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.