Gold Technical Analysis 27 May 2020
Gold Technical Analysis: The Gold declined 0.96% against the USD on Tuesday and closed at 1710.30. Today in the European session while Gold technical Analysis 27 May 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1701.00, which is 0.55% lower from Yesterday’s close.
The Gold is expected to find support at 1700.00, and a fall through could take it to the next support level of 1691.00. The pair is expected to find its first resistance at 1728.00, and a rise through could take it to the next resistance level of 1745.00. For today the expected trading range is betwee 1710.00, Support and 1745.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1700.00, Support 2: 1691:00, Support 3: 1674:00
Resistance Levels: Resistance 1: 1728.00, Resistance 2: 1745.00, Resistance 3: 1754.00
Gold Buying Opportunity for Intraday Trading 27 May 2020
Buy near the support area 1700.00 and 1691.00 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 27 May 2020
Sell near the resistance area 1728.00 and 1745.00 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.