Gold Technical Analysis February 1, 2019
The Gold rose 0.07% against the USD on Thursday and closed at 1320.00 Today in the European session while Gold technical analysis February 1, 2019 is preparing at 9:45 GMT, the XAU/USD trading at 1318.00, which is 0.15% lower from Yesterday’s close.
The Gold is expected to find support at 1317.00, and a fall through could take it to the next support level of 1312.00. The pair is expected to find its first resistance at 1325.50, and a rise through could take it to the next resistance level of 1331.50. For today the expected trading range is betwee 1308.00, Support and 1335.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1317.00 Support 2: 1312:00 Support 3: 1308:00
Resistance Levels: Resistance 1: 1326.00 Resistance 2: 1330.00 Resistance 3: 1335.00
Gold Buying Opportunity for Intraday Trading February 1, 2019
Buy near the support area 1317.00 and 1312.00 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 February 1, 2019
Sell near the resistance area 1326.00 and 1330.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.