Gold Technical Analysis 7 April 2020
Gold Technical Analysis: The Gold rose 2.80% against the USD on Monday and closed at 1659.35. Today in the Asian session while Gold technical Analysis 7 April 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1660.00, which is 0.03% higher from Yesterday’s close.
The Gold is expected to find support at 1684.00, and a fall through could take it to the next support level of 1677.00. The pair is expected to find its first resistance at 1645.00, and a rise through could take it to the next resistance level of 1622.00. For today the expected trading range is betwee 1622.00, Support and 1707.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1622.00, Support 2: 1584:00, Support 3: 1560:00
Resistance Levels: Resistance 1: 1683.00, Resistance 2: 1707.00, Resistance 3: 1745.00
Gold Buying Opportunity for Intraday Trading 7 April 2020
Buy near the support area 1645.00 and 1622.00 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 7 April 2020
Sell near the resistance area 1683.00 and 1707.00 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.