Gold Technical Analysis 17 June 2020
Gold Technical Analysis: The Gold rose 0.07% against the USD on Tuesday and closed at 1726.00. Today in the European session while Gold technical Analysis 17 June 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1718.00, which is 0.49% lower from Yesterday’s close.
The Gold is expected to find support at 1717.00, and a fall through could take it to the next support level of 1709.00. The pair is expected to find its first resistance at 1734.00, and a rise through could take it to the next resistance level of 1742.00. For today the expected trading range is betwee 1701.00, Support and 1742.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1717.00, Support 2: 1709:00, Support 3: 1701:00
Resistance Levels: Resistance 1: 1734.00, Resistance 2: 1742.00, Resistance 3: 1750.00
Gold Buying Opportunity for Intraday Trading 17 June 2020
Buy near the support area 1717.00 and 1709.00 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 17 June 2020
Sell near the resistance area 1734.00 and 1742.00 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.