Gold Technical Analysis July 5, 2019
Gold Technical Analysis: The Gold declined 0.35% against the USD on Thursday and closed at 1415.00 Today in the European session while Gold technical Analysis July 5, 2019 is preparing at 6:45 GMT, the XAU/USD trading at 1414.00, which is 0.07% lower from Yesterday’s close.
The Gold is expected to find support at 1409.50, and a fall through could take it to the next support level of 1404.00. The pair is expected to find its first resistance at 1421.00, and a rise through could take it to the next resistance level of 1427.00. For today the expected trading range is betwee 1398.00, Support and 1432.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1409.50 Support 2: 1404:00 Support 3: 1398:00
Resistance Levels: Resistance 1: 1421.00 Resistance 2: 1427.00 Resistance 3: 1432.00
Gold Buying Opportunity for Intraday Trading July 5, 2019
Buy near the support area 1409.50 and 1404.00 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 July 5, 2019
Sell near the resistance area 1421.00 and 1427.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.