Gold Technical Analysis 3 June 2020
Gold Technical Analysis: The Gold declined 0.61% against the USD on Tuesday and closed at 1727.50. Today in the European session while Gold technical Analysis 3 June 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1719.00, which is 0.50% lower from Yesterday’s close.
The Gold is expected to find support at 1707.00, and a fall through could take it to the next support level of 1694.00. The pair is expected to find its first resistance at 1741.00, and a rise through could take it to the next resistance level of 1755.00. For today the expected trading range is betwee 1694.00, Support and 1755.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1717.00, Support 2: 1707:00, Support 3: 1694:00
Resistance Levels: Resistance 1: 1741.00, Resistance 2: 1755.00, Resistance 3: 1765.00
Gold Buying Opportunity for Intraday Trading 3 June 2020
Buy near the support area 1707.00 and 1694.00 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 3 June 2020
Sell near the resistance area 1741.00 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.