Gold Technical Analysis 4 June 2020
Gold Technical Analysis: The Gold declined 1.67% against the USD on Wednesday and closed at 1698.00. Today in the European session while Gold technical Analysis 4 June 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1704.00, which is 0.40% higher from Yesterday’s close.
The Gold is expected to find support at 1681.00, and a fall through could take it to the next support level of 1664.00. The pair is expected to find its first resistance at 1724.00, and a rise through could take it to the next resistance level of 1749.00. For today the expected trading range is betwee 1681.00, Support and 1724.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1681.00, Support 2: 1664:00, Support 3: 1638:00
Resistance Levels: Resistance 1: 1724.00, Resistance 2: 1749.00, Resistance 3: 1766.00
Gold Buying Opportunity for Intraday Trading 4 June 2020
Buy near the support area 1681.00 and 1664.00 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 4 June 2020
Sell near the resistance area 1724.00 and 1749.00 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.