Gold Technical Analysis 2 September 2020
Gold Technical Analysis: The Gold rose 0.12% against the USD on Tuesday and closed at 1970.60. Today in the Asian session, while Gold technical Analysis 2 September 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1963.00, which is 0.37% lower from Yesterday’s close.
The Gold is expected to find support at 1955.00, and a fall through could take it to the next support level of 1945.00. The pair is expected to find its first resistance at 1975.00, and a rise through could take it to the next resistance level of 1987.00. Today’s expected trading range is between 1910.00, support and 1998.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1955.00
Support 2: 1945:00
Support 3: 1910:00
Important resistance levels:
Resistance 1: 1975.00
Resistance 2: 1987.00
Resistance 3: 2098.00
Gold buying opportunity for intraday trading on September 2, 2020
Buy near the support zones 1955.00 and 1945.00 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 September 2, 2020
Sell near the resistance zones 1975.00 and 1987.00 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.