Gold Technical Analysis 23 July 2020
Gold Technical Analysis: The Gold rose 1.63% against the USD on Wednesday and closed at 1871.00. Today in the Asian session, while Gold technical Analysis 23 July 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1883.00, which is 0.63% higher from Yesterday’s close.
The Gold is expected to find support at 1861.00, and a fall through could take it to the next support level of 1850.00. The pair is expected to find its first resistance at 1892.00, and a rise through could take it to the next resistance level of 1900.00. Today’s expected trading range is between 1750.00, support and 1900.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1861.00
Support 2: 1850:00
Support 3: 1830:00
Important resistance levels:
Resistance 1: 1892.00
Resistance 2: 1900.00
Resistance 3: 1913.00
Gold buying opportunity for intraday trading on July 23, 2020
Buy near the support zones 1861.00 and 1850.00 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 23, 2020
Sell near the resistance zones 1892.00 and 1900.00 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.