Gold Technical Analysis 7 September 2020
Gold Technical Analysis: The Gold rose 0.09% against the USD on Friday and closed at 1933.00. Today in the Asian session, while Gold technical Analysis 7 September 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1935.00, which is 0.11% higher from Yesterday’s close.
The Gold is expected to find support at 1917.00, and a fall through could take it to the next support level of 1910.00. The pair is expected to find its first resistance at 1948.00, and a rise through could take it to the next resistance level of 1954.00. Today’s expected trading range is between 1902.00, support and 1970.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1917.00
Support 2: 1910:00
Support 3: 1902:00
Important resistance levels:
Resistance 1: 1948.00
Resistance 2: 1954.00
Resistance 3: 1970.00
Gold buying opportunity for intraday trading on September 7, 2020
Buy near the support zones 1917.00 and 1910.00 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 September 7, 2020
Sell near the resistance zones 1948.00 and 1954.00 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.