Gold Technical Analysis 19 May 2020
Gold Technical Analysis: The Gold declined 0.85% against the USD on Monday and closed at 1732.00. Today in the European session while Gold technical Analysis 19 May 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1733.00, which is 0.05% higher from Yesterday’s close.
The Gold is expected to find support at 1718.00, and a fall through could take it to the next support level of 1704.00. The pair is expected to find its first resistance at 1756.00, and a rise through could take it to the next resistance level of 1779.00. For today the expected trading range is betwee 1704.00, Support and 1755.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1718.00, Support 2: 1704:00, Support 3: 1680:00
Resistance Levels: Resistance 1: 1756.00, Resistance 2: 1779.00, Resistance 3: 1793.00
Gold Buying Opportunity for Intraday Trading 19 May 2020
Buy near the support area 1718.00 and 1704.00 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 19 May 2020
Sell near the resistance area 1756.00 and 1779.00 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.