Gold Technical Analysis September 26, 2018
The Gold rose 0.20% against the USD on Tuesday and closed at 1201.00. Today in the European session while Gold technical analysis September 26, 2018 is preparing at 10:15 GMT, the XAU/USD trading at 1198.50, which is 0.20% lower from Yesterday’s close.
Gold prices continue to trade around 1,200. Prices have been trading between 1,190 and 1,212 in the past month. The trend is neutral in the short term, but the price is bearish as the transaction price is below 1200.
Investors are waiting for the details of the two-day meeting of the Federal Reserve. It is widely expected that the Fed will raise interest rates. Analysts said that although the outlook for 2019 is not clear, the market is expected to raise interest rates again before the end of the year.
Gold technical analysis September 26 2018
The Gold is expected to find support at 1197.50, and a fall through could take it to the next support level of 1194.00. The pair is expected to find its first resistance at 1203.00, and a rise through could take it to the next resistance level of 1206.50. For today the expected trading range is betwee 1194.00, Support and 1206.50 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1197.50 Support 2: 1194:00 Support 3: 1191:00
Resistance Levels: Resistance 1: 1203.00 Resistance 2: 1206.50 Resistance 3: 1210.00
Previous day`s high: 1203.20
Previous day`s low: 1196:90
Gold Buying Opportunity for Intraday Trading September 26, 2018
Buy near the support area 1297.50 and 1194.00 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji, using stop loss 2 pips below the reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading September 26, 2018
Sell near the resistance area 1203.00 and 1206.50 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.