Gold Technical Analysis 10 August 2020
Gold Technical Analysis: The Gold declined 1.61% against the USD on Friday and closed at 2033.00. Today in the Asian session, while Gold technical Analysis 10 August 2020 is preparing at 5:45 GMT, the XAU/USD trading at 2034.00, which is 0.04% higher from Yesterday’s close.
The Gold is expected to find support at 2019.00, and a fall through could take it to the next support level of 2008.00. The pair is expected to find its first resistance at 2041.00, and a rise through could take it to the next resistance level of 2066.00. Today’s expected trading range is between 1983.00, support and 2074.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 2019.00
Support 2: 2008:00
Support 3: 1983:00
Important resistance levels:
Resistance 1: 2041.00
Resistance 2: 2066.00
Resistance 3: 2074.00
Gold buying opportunity for intraday trading on August 10, 2020
Buy near the support zones 2019.00 and 2008.00 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 August 10, 2020
Sell near the resistance zones 2041.00 and 2066.00 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.