Gold Technical Analysis 8 April 2020
Gold Technical Analysis: The Gold declined 0.99% against the USD on Tuesday and closed at 1648.00. Today in the European session while Gold technical Analysis 8 April 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1651.00, which is 0.18% higher from Yesterday’s close.
The Gold is expected to find support at 1635.00, and a fall through could take it to the next support level of 1623.00. The pair is expected to find its first resistance at 1667.00, and a rise through could take it to the next resistance level of 1687.00. For today the expected trading range is betwee 1622.00, Support and 1667.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1635.00, Support 2: 1623:00, Support 3: 1603:00
Resistance Levels: Resistance 1: 1667.00, Resistance 2: 1687.00, Resistance 3: 1700.00
Gold Buying Opportunity for Intraday Trading 8 April 2020
Buy near the support area 1635.00 and 1623.00 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 8 April 2020
Sell near the resistance area 1667.00 and 1687.00 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.