Gold Technical Analysis 9 April 2020
Gold Technical Analysis: The Gold declined 0.35% against the USD on Wednesday and closed at 1641.50. Today in the Asian session while Gold technical Analysis 9 April 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1655.00, which is 0.82% higher from Yesterday’s close.
The Gold is expected to find support at 1639.00, and a fall through could take it to the next support level of 1633.00. The pair is expected to find its first resistance at 1655.00, and a rise through could take it to the next resistance level of 1663.00. For today the expected trading range is betwee 1633.00, Support and 1670.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1639.00, Support 2: 1633:00, Support 3: 1624:00
Resistance Levels: Resistance 1: 1655.00, Resistance 2: 1663.00, Resistance 3: 1670.00
Gold Buying Opportunity for Intraday Trading 9 April 2020
Buy near the support area 1639.00 and 1633.00 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 9 April 2020
Sell near the resistance area 1655.00 and 1663.00 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.