Gold Technical Analysis 21 July 2020
Gold Technical Analysis: The Gold rose 0.51% against the USD on Monday and closed at 1817.00. Today in the Asian session, while Gold technical Analysis 21 July 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1825.00, which is 0.45% higher from Yesterday’s close.
The Gold is expected to find support at 1814.00, and a fall through could take it to the next support level of 1808.00. The pair is expected to find its first resistance at 1830.00, and a rise through could take it to the next resistance level of 1838.00. Today’s expected trading range is between 1794.00, support and 1850.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1814.00
Support 2: 1808:00
Support 3: 1794:00
Important resistance levels:
Resistance 1: 1830.00
Resistance 2: 1838.00
Resistance 3: 1850.00
Gold buying opportunity for intraday trading on July 21, 2020
Buy near the support zones 1814.00 and 1808.00 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 July 21, 2020
Sell near the resistance zones 1830.00 and 1838.00 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.