Gold Technical Analysis 11 May 2020
Gold Technical Analysis: The Gold declined 0.39% against the USD on Friday and closed at 1702.40. Today in the European session while Gold technical Analysis 11 May 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1700.00, which is 0.14% lower from Yesterday’s close.
The Gold is expected to find support at 1694.00, and a fall through could take it to the next support level of 1687.00. The pair is expected to find its first resistance at 1717.00, and a rise through could take it to the next resistance level of 1731.00. For today the expected trading range is betwee 1672.00, Support and 1738.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1694.00, Support 2: 1687:00, Support 3: 1672:00
Resistance Levels: Resistance 1: 1717.00, Resistance 2: 1731.00, Resistance 3: 1739.00
Gold Buying Opportunity for Intraday Trading 11 May 2020
Buy near the support area 1694.00 and 1687.00 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 11 May 2020
Sell near the resistance area 1700.00 and 1731.00 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.