Gold Technical Analysis July 9, 2019
Gold Technical Analysis: The Gold declined 0.27% against the USD on Monday and closed at 1395.00 Today in the European session while Gold technical Analysis July 9, 2019 is preparing at 6:45 GMT, the XAU/USD trading at 1390.00, which is 0.35% lower from Yesterday’s close.
The Gold is expected to find support at 1388.50, and a fall through could take it to the next support level of 1382.00. The pair is expected to find its first resistance at 1404.50, and a rise through could take it to the next resistance level of 1414.00. For today the expected trading range is betwee 1372.50, Support and 1404.50 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1388.50 Support 2: 1382:00 Support 3: 1372:50
Resistance Levels: Resistance 1: 1404.50 Resistance 2: 1414.00 Resistance 3: 1420.00
Gold Buying Opportunity for Intraday Trading July 9, 2019
Buy near the support area 1388.50 and 1382.00 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 9, 2019
Sell near the resistance area 1404.50 and 1414.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.