Gold Technical Analysis February 5, 2019
The Gold declined 0.52% against the USD on Monday and closed at 1311.90 Today in the European session while Gold technical analysis February 5, 2019 is preparing at 9:45 GMT, the XAU/USD trading at 1312.50, which is 0.05% higher from Yesterday’s close.
The Gold is expected to find support at 1307.00, and a fall through could take it to the next support level of 1303.00. The pair is expected to find its first resistance at 1317.50, and a rise through could take it to the next resistance level of 1323.00. For today the expected trading range is betwee 1303.00, Support and 1323.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1307.00 Support 2: 13003:00 Support 3: 1197:00
Resistance Levels: Resistance 1: 1317.50 Resistance 2: 1323.00 Resistance 3: 1328.00
Gold Buying Opportunity for Intraday Trading February 5, 2019
Buy near the support area 1307.00 and 1303.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading February 5, 2019
Sell near the resistance area 1317.50 and 1323.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.