Gold Technical Analysis 7 July 2020
Gold Technical Analysis: The Gold rose 0.61% against the USD on Monday and closed at 1774.00. Today in the European session while Gold technical Analysis 7 July 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1778.00, which is 0.37% higher from Yesterday’s close.
The Gold is expected to find support at 1774.00, and a fall through could take it to the next support level of 1763.00. The pair is expected to find its first resistance at 1791.00, and a rise through could take it to the next resistance level of 1797.00. For today the expected trading range is betwee 1764.00, Support and 1797.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1774.00, Support 2: 1763:00, Support 3: 1757:00
Resistance Levels: Resistance 1: 1791.00, Resistance 2: 1797.00, Resistance 3: 1808.00
Gold Buying Opportunity for Intraday Trading 18 June 2020
Buy near the support area 1774.00 and 1763.00 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 18 June 2020
Sell near the resistance area 1791.00 and 1797.00 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.