Gold Technical Analysis 17 April 2020
Gold Technical Analysis: The Gold rose 0.11% against the USD on Thursday and closed at 1718.00. Today in the Asian session while Gold technical Analysis 17 April 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1707.00, which is 0.64% lower from Yesterday’s close.
The Gold is expected to find support at 1704.00, and a fall through could take it to the next support level of 1691.00. The pair is expected to find its first resistance at 1735.00, and a rise through could take it to the next resistance level of 1752.00. For today the expected trading range is betwee 1691.00, Support and 1735.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1704.00, Support 2: 1691:00, Support 3: 1675:00
Resistance Levels: Resistance 1: 1735.00, Resistance 2: 1752.00, Resistance 3: 1766.00
Gold Buying Opportunity for Intraday Trading 17 April 2020
Buy near the support area 1705.00 and 1695.00 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 17 April 2020
Sell near the resistance area 1735.00 and 1752.00 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.