Gold Technical Analysis July 16, 2019
Gold Technical Analysis: The Gold declined 0.18% against the USD on Monday and closed at 1413.61. Today in the European session while Gold technical Analysis July 16, 2019 is preparing at 6:45 GMT, the XAU/USD trading at 1415.00, which is 0.09% higher from Yesterday’s close.
The Gold is expected to find support at 1407.50, and a fall through could take it to the next support level of 1401.00. The pair is expected to find its first resistance at 1420.00, and a rise through could take it to the next resistance level of 1426.00. For today the expected trading range is betwee 1401.00, Support and 1432.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1407.50, Support 2: 1401:00, Support 3: 1395:00
Resistance Levels: Resistance 1: 1420.00, Resistance 2: 1426.00, Resistance 3: 1432.00
Gold Buying Opportunity for Intraday Trading July 16, 2019
Buy near the support area 1407.50 and 1401.00 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 July 16, 2019
Sell near the resistance area 1420.00 and 1426.00 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.