Gold Technical Analysis 20 May 2020
Gold Technical Analysis: The Gold rose 0.66% against the USD on Tuesday and closed at 1744.00. Today in the European session while Gold technical Analysis 20 May 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1749.00, which is 0.28% higher from Yesterday’s close.
The Gold is expected to find support at 1730.00, and a fall through could take it to the next support level of 1717.00. The pair is expected to find its first resistance at 1753.00, and a rise through could take it to the next resistance level of 1762.00. For today the expected trading range is betwee 1717.00, Support and 17575.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1730.00, Support 2: 1717:00, Support 3: 1708:00
Resistance Levels: Resistance 1: 1753.00, Resistance 2: 1762.00, Resistance 3: 1775.00
Gold Buying Opportunity for Intraday Trading 20 May 2020
Buy near the support area 1730.00 and 1717.00 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 20 May 2020
Sell near the resistance area 1753.00 and 1762.00 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.