Gold Technical Analysis 1 September 2020
Gold Technical Analysis: The Gold declined 0.04% against the USD on Monday and closed at 1968.00. Today in the Asian session, while Gold technical Analysis 1 September 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1997.50, which is 0.98% higher from Yesterday’s close.
The Gold is expected to find support at 1965.00, and a fall through could take it to the next support level of 1955.00. The pair is expected to find its first resistance at 1992.00, and a rise through could take it to the next resistance level of 1998.00. Today’s expected trading range is between 1955.00, support and 2015.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1965.00
Support 2: 1955:00
Support 3: 1944:00
Important resistance levels:
Resistance 1: 1992.00
Resistance 2: 1998.00
Resistance 3: 2015.00
Gold buying opportunity for intraday trading on September 1, 2020
Buy near the support zones 1965.00 and 1955.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
Gold selling opportunity for intraday trading on September 1, 2020
Sell near the resistance zones 1992.00 and 1998.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.