Gold Technical Analysis 3 September 2020
Gold Technical Analysis: The Gold rose 1.32% against the USD on Wednesday and closed at 1943.00. Today in the Asian session, while Gold technical Analysis 3 September 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1937.00, which is 0.31% lower from Yesterday’s close.
The Gold is expected to find support at 1927.00, and a fall through could take it to the next support level of 1910.00. The pair is expected to find its first resistance at 1950.00, and a rise through could take it to the next resistance level of 1967.00. Today’s expected trading range is between 1998.00, support and 1992.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1927.00
Support 2: 1910:00
Support 3: 1998:00
Important resistance levels:
Resistance 1: 1950.00
Resistance 2: 1967.00
Resistance 3: 1992.00
Gold buying opportunity for intraday trading on September 3, 2020
Buy near the support zones 1927.00 and 1910.00 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 3, 2020
Sell near the resistance zones 1950.00 and 1967.00 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.