Gold Technical Analysis 18 June 2020
Gold Technical Analysis: The Gold rose 0.06% against the USD on Wednesday and closed at 1726.00. Today in the European session while Gold technical Analysis 18 June 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1715.00, which is 0.2% lower from Yesterday’s close.
The Gold is expected to find support at 1715.00, and a fall through could take it to the next support level of 1705.00. The pair is expected to find its first resistance at 1741.00, and a rise through could take it to the next resistance level of 1751.00. For today the expected trading range is betwee 1705.00, Support and 1751.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1715.00, Support 2: 1705:00, Support 3: 1698:00
Resistance Levels: Resistance 1: 1734.00, Resistance 2: 1741.00, Resistance 3: 1751.00
Gold Buying Opportunity for Intraday Trading 18 June 2020
Buy near the support area 1715.00 and 1705.00 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 18 June 2020
Sell near the resistance area 1741.00 and 1751.00 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.