Gold Technical Analysis 5 June 2020
Gold Technical Analysis: The Gold rose 0.80% against the USD on Thursday and closed at 1713.00. Today in the European session while Gold technical Analysis 5 June 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1690.00, which is 1.64% lower from Yesterday’s close.
The Gold is expected to find support at 1685.00, and a fall through could take it to the next support level of 1675.00. 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 1735.00. For today the expected trading range is betwee 1675.00, Support and 1724.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1699.00, Support 2: 1685:00, Support 3: 1675:00
Resistance Levels: Resistance 1: 1724.00, Resistance 2: 1735.00, Resistance 3: 1749.00
Gold Buying Opportunity for Intraday Trading 5 June 2020
Buy near the support area 1685.00 and 1675.00 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 5 June 2020
Sell near the resistance area 1724.00 and 1735.00 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.