Gold Technical Analysis 26 May 2020
Gold Technical Analysis: The Gold declined 0.25% against the USD on Monday and closed at 1727.80. Today in the European session while Gold technical Analysis 26 May 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1723.00, which is 0.26% lower from Yesterday’s close.
The Gold is expected to find support at 1715.00, and a fall through could take it to the next support level of 1710.00. The pair is expected to find its first resistance at 1740.00, and a rise through could take it to the next resistance level of 1745.00. For today the expected trading range is betwee 1710.00, Support and 1745.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1722.00, Support 2: 1715:00, Support 3: 1710:00
Resistance Levels: Resistance 1: 1734.00, Resistance 2: 1740.00, Resistance 3: 1745.00
Gold Buying Opportunity for Intraday Trading 26 May 2020
Buy near the support area 1715.00 and 1710.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading 26 May 2020
Sell near the resistance area 1740.00 and 1745.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.