Gold Technical Analysis 17 July 2020
Gold Technical Analysis: The Gold declined 0.76% against the USD on Thursday and closed at 1797.00. Today in the Asian session, while Gold technical Analysis 17 July 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1780.00, which is 0.11% higher from Yesterday’s close.
The Gold is expected to find support at 1789.00, and a fall through could take it to the next support level of 1783.00. The pair is expected to find its first resistance at 1802.00, and a rise through could take it to the next resistance level of 1808.00. Today’s expected trading range is between 1773.00, support and 1815.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1789.00
Support 2: 1783:00
Support 3: 1773:00
Important resistance levels:
Resistance 1: 1802.00
Resistance 2: 1808.00
Resistance 3: 1815.00
Gold buying opportunity for intraday trading on July 17, 2020
Buy near the support zones 1789.00 and 1783.00 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 July 17, 2020
Sell near the resistance zones 1802.00 and 1808.00 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.