Gold Technical Analysis 20 April 2020
Gold Technical Analysis: The Gold declined 1.63% against the USD on Friday and closed at 1680.00. Today in the Asian session while Gold technical Analysis 20 April 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1683.00, which is 0.17% higher from Yesterday’s close.
The Gold is expected to find support at 1668.00, and a fall through could take it to the next support level of 1655.00. The pair is expected to find its first resistance at 1707.00, and a rise through could take it to the next resistance level of 1732.00. For today the expected trading range is betwee 1655.00, Support and 1707.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1668.00, Support 2: 1655:00, Support 3: 1630:00
Resistance Levels: Resistance 1: 1707.00, Resistance 2: 1732.00, Resistance 3: 1745.00
Gold Buying Opportunity for Intraday Trading 20 April 2020
Buy near the support area 1668.00 and 1655.00 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 20 April 2020
Sell near the resistance area 1707.00 and 1732.00 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.