Gold Technical Analysis 27 July 2020
Gold Technical Analysis: The Gold rose 0.62% against the USD on Friday and closed at 1901.00. Today in the Asian session, while Gold technical Analysis 27 July 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1932.00, which is 1.60% higher from Yesterday’s close.
The Gold is expected to find support at 1893.00, and a fall through could take it to the next support level of 1886.00. The pair is expected to find its first resistance at 1944.00, and a rise through could take it to the next resistance level of 1967.00. Today’s expected trading range is between 1798.00, support and 1967.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1898.00
Support 2: 1886:00
Support 3: 1870:00
Important resistance levels:
Resistance 1: 1944.00
Resistance 2: 1967.00
Resistance 3: 1980.00
Gold buying opportunity for intraday trading on July 27, 2020
Buy near the support zones 1898.00 and 1886.00 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 27, 2020
Sell near the resistance zones 1944.00 and 1967.00 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.