Gold Technical Analysis Aug 1, 2019
Gold Technical Analysis: The Gold declined 1.41% against the USD on Wednesday and closed at 1410.30. Today in the European session while Gold technical Analysis Aug 1, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1407.00, which is 0.23% lower from Yesterday’s close.
The Gold is expected to find support at 1403.00, and a fall through could take it to the next support level of 1395.00. The pair is expected to find its first resistance at 1427.00, and a rise through could take it to the next resistance level of 1443.00. For today the expected trading range is betwee 1418.00, Support and 1446.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1403.00, Support 2: 1395:00, Support 3: 1380:00
Resistance Levels: Resistance 1: 1427.00, Resistance 2: 1443.00, Resistance 3: 1452.00
Gold Buying Opportunity for Intraday Trading Aug 1, 2019
Buy near the support area 1403.00 and 1395.00 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 Aug 1, 2019
Sell near the resistance area 1427.00 and 1443.00 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.