Gold Technical Analysis January 24, 2019
The Gold declined 1.18% against the USD on Wednesday and closed at 1282.37. Today in the European session while Gold technical analysis January 24, 2019 is preparing at 9:45 GMT, the XAU/USD trading at 1280.00, which is 0.18% lower from Yesterday’s close.
The Gold is expected to find support at 1278.00, and a fall through could take it to the next support level of 1274.50. The pair is expected to find its first resistance at 1286.00, and a rise through could take it to the next resistance level of 1290.00. For today the expected trading range is betwee 1270.00, Support and 1294.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1278.00 Support 2: 1274:50 Support 3: 1270:00
Resistance Levels: Resistance 1: 1286.00 Resistance 2: 1290.00 Resistance 3: 1294.00
Gold Buying Opportunity for Intraday Trading January 24, 2019
Buy near the support area 1278.00 and 1270.00 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 January 24, 2019
Sell near the resistance area 1286.90 and 1290.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.