Gold Technical Analysis Aug 26, 2019
Gold Technical Analysis: The Gold rose 1.84% against the USD on Thursday and closed at 1526.20. Today in the European session while Gold technical Analysis Aug 26, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1531.00, which is 0.31% higher from Yesterday’s close.
The Gold is expected to find support at 1503.00, and a fall through could take it to the next support level of 1480.00. The pair is expected to find its first resistance at 1554.00, and a rise through could take it to the next resistance level of 1576.00. For today the expected trading range is betwee 1480.00, Support and 1510.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1503.00, Support 2: 1480:00, Support 3: 1466:00
Resistance Levels: Resistance 1: 1540.00, Resistance 2: 1554.00, Resistance 3: 1576.00
Gold Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 1503.00 and 1480.00 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 1554.00 and 1576.00 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.