Gold Technical Analysis Aug 22, 2019
Gold Technical Analysis: The Gold declined 0.27% against the USD on Wednesday and closed at 1502.20. Today in the European session while Gold technical Analysis Aug 22, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1496.00, which is 0.41% lower from Yesterday’s close.
The Gold is expected to find support at 1490.00, and a fall through could take it to the next support level of 1485.00. The pair is expected to find its first resistance at 1508.00, and a rise through could take it to the next resistance level of 1514.00. For today the expected trading range is betwee 1485.00, Support and 1514.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1496.00, Support 2: 1490:00, Support 3: 1485:00
Resistance Levels: Resistance 1: 1508.00, Resistance 2: 1514.00, Resistance 3: 1520.00
Gold Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 1496.00 and 1490.00 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 16, 2019
Sell near the resistance area 1508.00 and 1514.00 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.