Gold Technical Analysis 17 October 2019
Gold Technical Analysis: The Gold rose 0.60% against the USD on Wednesday and closed at 1489.00. Today in the European session while Gold technical Analysis 17 October 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1488.00, which is 0.06% lower from Yesterday’s close.
The Gold is expected to find support at 1480.00, and a fall through could take it to the next support level of 1471.00. The pair is expected to find its first resistance at 1499.00, and a rise through could take it to the next resistance level of 1500.00. For today the expected trading range is betwee 1471.00, Support and 1510.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1480.00, Support 2: 1471:00, Support 3: 1466:00
Resistance Levels: Resistance 1: 1495.00, Resistance 2: 1500.00, Resistance 3: 1510.00
Gold Buying Opportunity for Intraday Trading 17 October 2019
Buy near the support area 1480.00 and 1571.00 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 October 2019
Sell near the resistance area 1495.00 and 1500.00 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.