Gold Technical Analysis 2 June 2020
Gold Technical Analysis: The Gold rose 0.25% against the USD on Monday and closed at 1739.50. Today in the European session while Gold technical Analysis 2 June 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1742.00, which is 0.17% higher from Yesterday’s close.
The Gold is expected to find support at 1729.00, and a fall through could take it to the next support level of 1719.00. The pair is expected to find its first resistance at 1747.00, and a rise through could take it to the next resistance level of 1755.00. For today the expected trading range is betwee 1719.00, Support and 1765.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1729.00, Support 2: 1719:00, Support 3: 1712:00
Resistance Levels: Resistance 1: 1747.00, Resistance 2: 1755.00, Resistance 3: 1765.00
Gold Buying Opportunity for Intraday Trading 2 June 2020
Buy near the support area 1729.00 and 1719.00 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 2 June 2020
Sell near the resistance area 1747.00 and 1755.00 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.