Gold Technical Analysis Aug 14, 2019
Gold Technical Analysis: The Gold declined 0.60% against the USD on Tuesday and closed at 1501.20. Today in the European session while Gold technical Analysis Aug 14, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1506.00, which is 0.32% higher from Yesterday’s close.
The Gold is expected to find support at 1475.00, and a fall through could take it to the next support level of 1450.00. The pair is expected to find its first resistance at 1531.00, and a rise through could take it to the next resistance level of 1561.00. For today the expected trading range is betwee 1575.00, Support and 1531.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1475.00, Support 2: 1450:00, Support 3: 1420:00
Resistance Levels: Resistance 1: 1531.00, Resistance 2: 1561.00, Resistance 3: 1587.00
Gold Buying Opportunity for Intraday Trading Aug 14, 2019
Buy near the support area 1475.00 and 1450.00 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 Aug 14, 2019
Sell near the resistance area 1531.00 and 1561.00 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.