Gold Technical Analysis March 7, 2019
The Gold declined 0.07% against the USD on Wednesday and closed at 1286.10 Today in the European session while Gold technical analysis March 7, 2019 is preparing at 9:45 GMT, the XAU/USD trading at 1285.00, which is 0.08% lower from Yesterday’s close.
The Gold is expected to find support at 1280.00, and a fall through could take it to the next support level of 1275.00. The pair is expected to find its first resistance at 1290.00, and a rise through could take it to the next resistance level of 1294.00. For today the expected trading range is betwee 1275.00, Support and 1298.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1283.00 Support 2: 1280:00 Support 3: 1275:00
Resistance Levels: Resistance 1: 1290.00 Resistance 2: 1294.00 Resistance 3: 1298.00
Gold Buying Opportunity for Intraday Trading March 7, 2019
Buy near the support area 1280.00 and 1275.00 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 March 7, 2019
Sell near the resistance area 1290.00 and 1294.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.