Gold Technical Analysis 13 August 2020
Gold Technical Analysis: The Gold rose 0.19% against the USD on Wednesday and closed at 1919.00. Today in the Asian session, while Gold technical Analysis 13 August 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1931.00, which is 0.63% higher from Yesterday’s close.
The Gold is expected to find support at 1908.00, and a fall through could take it to the next support level of 1870.00. The pair is expected to find its first resistance at 1947.00, and a rise through could take it to the next resistance level of 1968.00. Today’s expected trading range is between 1870.00, support and 1994.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1908.00
Support 2: 1870:00
Support 3: 1820:00
Important resistance levels:
Resistance 1: 1947.00
Resistance 2: 1968.00
Resistance 3: 1994.00
Gold buying opportunity for intraday trading on August 13, 2020
Buy near the support zones 1909.00 and 1870.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
Gold selling opportunity for intraday trading on August 13, 2020
Sell near the resistance zones 1947.00 and 1968.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.