Gold Technical Analysis 18 October 2019
Gold Technical Analysis: The Gold rose 0.13% against the USD on Thursday and closed at 1492.00. Today in the European session while Gold technical Analysis 18 October 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1491.00, which is 0.06% lower from Yesterday’s close.
The Gold is expected to find support at 1484.00, and a fall through could take it to the next support level of 1477.00. The pair is expected to find its first resistance at 1498.00, and a rise through could take it to the next resistance level of 1505.00. For today the expected trading range is betwee 1470.00, Support and 1512.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1484.00, Support 2: 1477:00, Support 3: 1470:00
Resistance Levels: Resistance 1: 1498.00, Resistance 2: 1505.00, Resistance 3: 1512.00
Gold Buying Opportunity for Intraday Trading 18 October 2019
Buy near the support area 1484.00 and 1577.00 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 18 October 2019
Sell near the resistance area 1498.00 and 1505.00 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.